The CM explained that the goal of the new law is to ensure elderly parents are not left uncared for by their children.
IRDAI has set a cap of 10% on the annual premium hikes for individuals aged 60 and above.
The idea behind Walkfit was inspired by their personal experiences.
Senior citizens, defined as residents aged 60 years or above but less than 80, have different criteria for filing an ITR.
This benefit does not extend to senior citizens, who have a more advantageous threshold under Section 80TTB.