Senior Citizen/Physically handicapped

The finance minister had discussions with business personnel and sought their views on budjet proposals for 2009. He should also meet general public, particularly Senior citizens and Physically handicapped to look into their problems and make suitable modifications in the budjet. In particular following actions will be helpful1. Many Senior citizens have no pension and live out of interest income from their Providend Fund(received at the time of retirement). As the interest rates have down steeply,. 1% higher interest rates in place of present 0.5% should be paid on interest on Fixed Deposits with Banks and Non banking Finance companies and Manufacturing units for Senior citizens.2. At present no TDS is deducted up to interest of Rs 10000 per annum. Beyond that Form 15H has to be submitted to avoid TDS. This limit should be increased from Rs. 10000 to 20000 for Senior Citizens and Physically handicapped.3. The interest on Senior citizen's Saving scheme 2004 should be increased from 9 % to 10 %.4. The interest on Monthly income scheme, National Saving Certificate and NSS of Post office should be increased by 1 % for Senior citizens and Physically handicapped.5. Income tax exemption limit for senior Citizen should be raised to Rs 3 lakhs per annum.6. A saving scheme for physically handicapped should be introduced with interest rate of 10 %7. Rebate on incometax for physically handicapped should be increased from Rs. 40000 to Rs 600008. Loans should be made available from Banks or other bodies for Senior Citizens and Physically handicapped at low interest rates for purchasing house