Draft of Petition to FM
The Finance Minister, Government of India:
Shri Arun Jaitley ji
Request for issue of 10% Senior Citizens (Taxable) Bonds to provide Regular Income Stream to Senior Citizens
PREAMBLE
This is a Petition by Senior Citizens who are not in receipt of Pension from either Government or from employers. After retirement they depend on income from investment of their lifelong savings in various safe and secure avenues, for regular income to meet day to day expenses. However the interest rates are reducing on such investments thereby reducing the income of Senior Citizens whereas prices of essential commodities are rising.
PETITION
We request Government of India to kindly consider to issue 10% Senior Citizens (Taxable) Bonds 2017 from January 2017. The terms & conditions can be same as for GOI 8% Savings (Taxable) Bonds 2003 except for eligible age which may be fixed as 58 years and interest may be paid every quarter.
Government may also exempt these Bonds from TDS to reduce hardship to senior citizens. Banks can upload the interest paid for each PAN No. in Form 26AS for income tax purpose.
These Bonds can be issued by State Bank of India & Associate Banks, 17 Nationalized Banks, UTI Bank Ltd., ICICI Bank Ltd., HDFC Bank Ltd., IDBI Bank Ltd., and
Stock Holding Corporation of India Ltd. more
Shri Arun Jaitley ji
Request for issue of 10% Senior Citizens (Taxable) Bonds to provide Regular Income Stream to Senior Citizens
PREAMBLE
This is a Petition by Senior Citizens who are not in receipt of Pension from either Government or from employers. After retirement they depend on income from investment of their lifelong savings in various safe and secure avenues, for regular income to meet day to day expenses. However the interest rates are reducing on such investments thereby reducing the income of Senior Citizens whereas prices of essential commodities are rising.
PETITION
We request Government of India to kindly consider to issue 10% Senior Citizens (Taxable) Bonds 2017 from January 2017. The terms & conditions can be same as for GOI 8% Savings (Taxable) Bonds 2003 except for eligible age which may be fixed as 58 years and interest may be paid every quarter.
Government may also exempt these Bonds from TDS to reduce hardship to senior citizens. Banks can upload the interest paid for each PAN No. in Form 26AS for income tax purpose.
These Bonds can be issued by State Bank of India & Associate Banks, 17 Nationalized Banks, UTI Bank Ltd., ICICI Bank Ltd., HDFC Bank Ltd., IDBI Bank Ltd., and
Stock Holding Corporation of India Ltd. more
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Elected Members to the Parliament get the PENSION for a LIFE TIME. Is it true?? If so can we suggest through Change.org that 1.Any one can stand for election,and,get elected,Thrice to work for Fifteen years. 2.Retirement age will be 75 years 3.He will get superannuation from Government,like it is being done in organised Sectors. more
Nov 16
It is very easy to say for FM that he will not concede to demands of Sr. Citizens. Why did he concede to the demand of MP and others to increase their pay & allowance. Is it because that he will be also benefited by the same. Is it the way of showing the concern of the Govt. for Sr. Citizens? Sr citizens are not beggers and can live their lives even if the concessions allowed to them are withdrawn by the Govt. / FM. After all the ministers will also be Sr. citizens one day. more
Nov 16
The comments of FM and his understanding is very unfortunate. He is not understanding the reality. He has to loose his rajya sabha seat also, if he dosn't change his style. more
Nov 13
Dear Mr.Venkatarayan K, Your understanding is correct Who can join NPS? A citizen of India, whether resident or non-resident can join NPS, subject to the following conditions: 1. The subscriber should have age between 18 – 60 years as on the date of submission of his/her application to the Point of Presence (POP) / Point of Presence–Service Provider -Authorized branches of POP for NPS (POP-SP). As per above Senior Citizens are not eligible. Apart from this from which income they will contribute to NPS. more
Nov 11
I have signed the petition and got a number of friends of mine also to sign. Yesterday the FM in his interview with Times Now stated that many requests for various concession form Senior Citizens are coming and the Government is NOT going to concede them. In this context he said that Senior Citizens have various tax friendly schemes avialable and they are not using the. He said one such is NPS. I am not sure he is right in this regard. My understanding is that NPS is meant for existing serving people for getting pension when they retire. Kindly comment more
Nov 11
