This paper examines economic deprivations among elderly and non-elderly households in India, using data from the National Family Health Survey-3 (2005-2006). Economic deprivation is measured with respect to the asset poor, derived from a set of economic proxies, such as housing quality, household amenities, land ownership and consumer durables, using the principal component analysis. Results show that the poverty level among older persons living in nuclear households was very high compared with that among older persons living in non-nuclear households or households without any elderly. This paper therefore suggests an analysis of the poverty data by integrating the type of households and living arrangements for the elderly to ensure evidence-based policies and programmes. It also suggests that all elderly living in nuclear households with little or no education be included in existing social pension systems and incentives be provided to promote co-residence among older persons.