58 Million Elderly People Are Not Getting Any Financial Assistance: Report

News World India | 0
| September 30 , 2018 , 00:10 IST

At least 58 million people aged above 60 years and over 80 years entitled to get the benefits of Rs 200 per month and Rs 500 per month under the Indira Gandhi National Old Age Pension Scheme (IGNOAPS) are not getting a pension.

The Pension Parishad that maintains how a nation treats elderly people also said on Saturday that the 58 million are not even getting any kind of financial assistance.

Economist Prabhat Patnaik citing the State of Pensions in India report 2018 said that the Central government spends as little as 0.04 percent of the GDP for its flagship Indira Gandhi National Social Assistance (IGNOAPS) programme for ensuring income security for the elderly.

Also Read: Atal Pension Yojana (APY) Limit Might Increase To 10k Per Month 

Patnaik was quoted by IANS as saying, "It will cost only about 1.6 percent of the present-day GDP to ensure 90 percent of the elderly population a pension of Rs 2,500 per person every month."

According to the National Social Assistance Programme (NSAP), a welfare programme also administered by the Ministry of Rural Development around 80 million elderly people in India are entitled to a get a pension of Rs 200 per month.

At 8.2 percent of the total population close to 10 crores, elderly people are living without a family or no financial assistance.

The major reason for an increase in the elderly population living without family is large-scale migration that is now becoming the norm for working class people.