NTA2020 Bhaumik

Global Meeting on Population and the Generational Economy, August 2020

Presentation: Debolina Bhaumik, Laishram Ladusingh, Does Post-2005 Policy Reforms Have Changed the Means of Support for the Elderly in India? Quantifying by National Transfer Accounts 

Abstract

Age composition in world’s population is changing rapidly due to the demographic transition. This will create an additional pressure on many developing countries to reform their policies towards elderly. Using the National Transfer Accounts (NTA) method, the main objective of this paper is to examine a) how the impact of age structure transition and post 2005 policy reforms have changed the means of support for the elderly in India, (b) how the private and public transfers work together to meet income and consumption inequalities. The result showed that the Lifecycle deficit of elderly has reduced from 34 percent to 24.7 percent from 2005 to 2011 due to the joint effect of per capita labor income enhancement and collateral decline in per capita consumption. Particularly, there have been no significant contribution of net public transfers towards elderly as the taxes paid by them sometimes exceed the benefits they received. Results also showed that net private transfers and private asset-based reallocations played the main role to meet up the lifecycle deficit in both the years. This paper described the exact social security provisions for elderly in India as well as the importance of a stronger supporting system by the government in the future. 

File: NTA2020 Bhaumik

Paper: NTA2020 paper Bhaumik

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