A recent report by SBI researchers reveals that the government has amassed over Rs 27,000 crore in taxes from senior citizens on the interest earned from fixed deposits in the last fiscal year. This significant tax collection highlights the substantial contribution of senior citizens to the economy through their savings and investments.The report also highlights a remarkable 143 percent increase in the total amount of deposits over the past five years, soaring from Rs 14 lakh crore to Rs 34 lakh crore by the end of FY24.