In the next two years, India will have 320 million people over 60 years of age, a swell of more than three times since 2010, according to UN estimates.
"In 2010, India had an estimated population of 90 million ageing over 60 years. In 2015, the projection is somewhere near 320 million," informed Lise Grande, UN resident coordinator and UNDP resident representative in India.
Grande was speaking at a conference "Ageing Women Critical Challenges and Concerns" in New Delhi. The conference was also attended by Kumari Selja, Union minister of social justice and empowerment and Planning Commission member Dr Syeda Hameed.
She added, "The policy implications of such a large number of people who have crossed 60 years of age are significant. One of the points we were stressing that India has risen to that policy challenge. There is a very good policy framework, but additional steps are required. One of this is pensions, which people have spoken about and it should be raised."
Grande added, "The elderly are contributing massively to India's economy and through India's economy also to the global economy."
Planning Commission member Syeda Hameed informed that the 12th Five Year Plan has allocated over Rs 4000 crore for health schemes related to elderly people.