Govt should expand coverage of old-age pension, hike amount: activists

Suggest 0.8% wealth tax on the most affluent, seek minimum pension of Rs 2,500 a month

India, which spends just 0.04 per cent of its annual GDP on old-age pension for the BPL (below poverty line) sector, should enlarge its coverage along with the amount paid as pension to make any meaningful impact, civil society activists said in New Delhi on Friday.

Under the flagship Indira Gandhi National Social Assistance Programme (IGNOAPS), the Central government  gives a monthly pension of Rs 200 for those in the 60-79 age group and Rs 500 for those 80 and above, which is meagre considering the rise in inflation, they state.