BUDGET SESSION COMING
LET US PLACE OUR DEMANDS!
Dear Comrades, As you are aware they Government has commenced consultation with great people for the preparation of the Budget. Pensioners Associations are not normally consulted. However, that does not debar us from writing letters.
We propose the following:
(i) Raising the ceiling limit for senior citizen;
(ii) Give deduction for the expenses incurred for medicine and hospital treatment, of course on production of the concerned bills; a special deduction on interest income in the light of the fact that the Government has reduced the interest on fixed deposits.
(iii) We also feel that the Government must introduce a special insurance scheme for senior citizens against accidents, hospitalization, illness etc. as the established companies do not provide it and even if they provide they charge exorbitantly for premium.
If you have any suggestion in this regard, kindly intimate us immediately before the final letter goes.
With greetings. yours fraternally, KKN . Kutty, Secretary General, NCCPA
Presently, the schemes like SCSS and PMVVY of LIC offer an interest of 7 to 7.6 % but lock up the deposit for 5 to 10 years and premature closure imposes a penalty of 1 to 2%. For senior citizens, locok in period of 5 to 10 years is too long considering the medical conditions and expenses. Therefore,it is suggested that senior citizens may be paid a flat rate of interest of 8% for all deposits of one year or more in all the banks and the ceiling for deposits may be capped at Rs.15 lakhs per person. Premature closure of deposits may be paid applicable rate of interest on par with others.
ReplyDeleteFor incoming Budget sassion the demands as proposed by Secy.General,NCCPA are justified.Many in numbers may not serve the purpose.Thanks Comrade.
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