Finance Minister, Arun Jaitley announced the introduction of Aadhaar based smart cards for senior citizens over the age of 60 years at the presentation of the Union Budget in the lower house of parliament.
“For senior citizens, Aadhaar based Smart Cards containing their health details will be introduced,” Jaitley said.
He further added that a pilot phase of this project in 15 districts in India during the financial year 2017-18 will be introduced.
“The LIC will implement a scheme for senior citizens to provide assured pension, with a guaranteed return of 8% per annum for 10 years,” Jaitley added.
On December 31, in his New Year’s eve speech, PM Narendra Modi announced new schemes for senior citizens.
"Under the scheme, senior citizens will receive a fixed interest rate of 8 per cent for a period of 10 years, on deposits up to Rs 7.5 lakh. The interest will be paid monthly," Modi said.
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