Financing young and elderly dependents: the case of Indian public policy
In this paper the author explores the monetary benefits of young and elderly dependents under the public policy that introduced age into the National Accounts of India, the framework of the National Transfer Accounts. The results of the study indicate that the net monetary gain of young dependents is more than seven times higher than that of elderly dependents. It is suggested that there is a need to reorient the country’s fiscal policy in order to meet the demand for sustainable social security in the face of impending population ageing in the decades ahead. A desirable policy strategy would be to convert all social assistance programmes into a single long-term national social security programme, the scope of which would encompass various aspects of intergenerational equity, raise the level of entitlement to match actual need and make national social security a universal programme.
Volume (Year): 20 (2013)
Issue (Month): 1 (June)
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- Andrew Mason & Ronald Lee & An-Chi Tung & Mun-Sim Lai & Tim Miller, 2009.
"Population Aging and Intergenerational Transfers: Introducing Age into National Accounts,"
in: Developments in the Economics of Aging, pages 89-122
National Bureau of Economic Research, Inc.
- Andrew Mason & Ronald Lee & An-Chi Tung & Mun-Sim Lai & Tim Miller, 2006. "Population Aging and Intergenerational Transfers: Introducing Age into National Accounts," NBER Working Papers 12770, National Bureau of Economic Research, Inc.
- Acharya, Shankar, 2008. "Essays on Macroeconomic Policy and Growth in India," OUP Catalogue, Oxford University Press, number 9780195695878, December.
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