Union Budget 2024-25: Continued Focus on Social Security and Health for Elderly
February 1, 2024
The Union Budget 2024-25, while not introducing major new standalone schemes for the elderly, reinforced the government's commitment through enhanced allocations for health infrastructure, social security pensions, and financial instruments. The increase in the maximum investment limit for the Senior Citizen Savings Scheme (SCSS) to ₹30 lakh in the previous budget cycle continues to provide a significant financial cushion. From a UPSC angle, this highlights the government's strategy of strengthening existing frameworks and leveraging financial inclusion for elderly welfare, rather than launching entirely new programs. Aspirants should analyze the budget's indirect benefits for the elderly through overall health and social welfare sector outlays.
UPSC Angle: Analyze the impact of Budget 2024-25 allocations on the financial and health security of senior citizens. Discuss how existing schemes are being strengthened and the role of financial instruments in elderly welfare.