Dispensable Cash Income and Depression among Indian Male Older Adults: A Study Based on Propensity Score Matching

Benson Thomas M, SRM Institute of Science and Technology, Chennai
Anuj Kumar Pandey, International Institute Of Health Management Research - IIHMR
Abdul Jaleel, International Institute for Population Sciences (IIPS)

Introduction: Depression is influenced by socio-economic factors, and financial insecurity may exacerbate mental health issues in this population. This study explores the link between the unavailability of regular dispensable cash income and depressive symptoms among older male adults in India. Method: Data from the Longitudinal Ageing Study in India (Wave-I, 2017–2018) was analysed to examine the effect of a lack of independent dispensable cash income (predictor) on depressive symptoms (outcome) among older men. Seventeen control variables were included. The analysis employed Propensity Score Matching (PSM) and Multivariate Logistic Regression. Results: Of the 29,178 males aged 45 and above, 83.9% had some form of dispensable income. Men without dispensable cash income had a higher prevalence of depressive symptoms (11.36%) compared to those with at least one source (6.05%) (p < 0.001). Having 1–3 sources of dispensable income significantly reduced depressive symptoms, particularly in urban areas (AOR: 0.55, 95% CI: 0.38–0.81, p = 0.002). PSM analysis confirmed that regular access to dispensable cash reduces depressive symptoms. Conclusion: Targeted policy interventions to enhance financial security, particularly in urban areas, are essential to improve the mental health and well-being of older adults in India.

Keywords: Population Ageing, Gender Dynamics, Economic Demography, Econometrics

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