Beero Devi was killed in the attack by unknown miscreants at her residence located in a busy street here.
The throats of the deceased and her daughter-in-law Pushpa women were slit with a sharp weapon, police said, adding that the motive behind the crime was not immediately clear.
Pushpa's husband found out about the attack when she called him on his cellphone in her seriously injured state.
The injured woman was rushed to the a local hospital from where she has been referred to PGI, Chandigarh, in a critical condition.