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Budget 2023 Expectations: What do senior citizens expect?

Finance Minister Nirmala Sitharaman will present the Union Budget on February 1. 

Senior citizens expect the government to raise basic exemption limit from 3 lakh to 5 lakh.

Increase in deduction against medical expenses and health insurance premiums up to 1 lakh is sought.

OPD expenses should be allowed for deduction even if not covered under insurance policies. 

Tax deduction of up to 1 lakh on interest earned on bank and Post Office savings FDs under Section 80TTB.

Dedicated fixed income instrument and rationalisation of lock-in period of specified investments u/s 80C are also expected. 

Pension income, at least the principal of it, should be made tax-free.


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Click here to read more about the Budget expectations of the senior citizens.

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Budget 2023 Expectations: What do senior citizens expect?

Finance minister Nirmala Sitharaman will present the Union Budget – final full Budget of the Narendra Modi government before the 2024 general elections – on February 1.

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