Social Security for the Elderly in India: A Note on Old Age Pension
In most countries of the developing world, though the importance of universal social security is being increasingly recognized as an integral part of progressive public policy, only a fraction of population have been covered under the safety-net of social security. This note has an extremely modest objective and is primarily concerned with social security for the elderly in India. In this context, it focuses largely on status, coverage and other related issues in the National Social Assistance Programme (NSAP); as it happens this is the only programme which seeks to address pension concerns for the old age population in India. We have put forth a proposal for universal old age pension provisioning with a detailed analysis of budgetary expenditures required for a reasonable scheme in place. The note also briefly reflects on additional revenue mobilization efforts, which the Union Government may need to undertake to finance the proposed pension scheme.