Ageing is a normal biological process that is a part of the life process. The way one defines aging differs depending on the various social constructions and varies according to culture. Usually, the age of retirement i.e., 60 or 65 years is considered as the starting of old age and on the basis of changing social roles and capabilities. The data points out that the elderly population is increasing globally. According to the India Ageing Report of 2017, the global old age population stood at 11.5% of the total population of 7 billion and it is projected to increase to 19% by the year 2050. Thus, most countries of the world are going through the demographic transition phase where there is continuous increase of elderly population which is the result of decrease in birth rate as well as death rate and increase in life expectancy. The changing family norms and the elderly family who are living alone are more vulnerable. The COVID-19 pandemic has aggravated the challenges being faced by the elderly. With the increase in age the elderly population has to face challenges in terms of physiology, mentally, economically, socially and emotionally. For a healthy ageing the well-being of the elderly population also has to be looked into. Well-being adds to the component of increasing longevity. Well-being is associated with reduction in monetary burden and rise in economic contribution. The paper focuses on analyzing LASI data to understand the ageing and well-being of the elderly population on the basis of various socio-economic indicators.