SAGE( Seniorcare Ageing Growth Engine)

Ministry of Social Justice & Empowerment

Context:

The Minister of Social Justice and Empowerment, Shri Thaawarchand Gehlot virtually launched the SAGE (Seniorcare Aging Growth Engine) initiative and SAGE portal for elderly persons today in the presence of Ministers of State for Social Justice and Empowerment Shri Ramdas Athawale and Shri Rattan LalKataria. Secretary, Dept of Social Justice , Shri Subrahmanyam gave the introductory remarks.

About:

• The SAGE portal will be a “one-stop access” of elderly care products and services by credible start-ups
• The start-ups will be selected on the basis of innovative products and services, which they should be able to provide across sectors such as health, housing, care centers, apart from technological access linked to finances, food and wealth management, and legal guidance.
• To create a more robust eldercare ecosystem in India, especially in the post-COVID phase. Keeping this need in mind, an amount of  Rs 100 crore has been assigned for the promotion of the silver economy.
• An allocation of Rs 25 crores has been made for the SAGE project in the current financial year i.e 2021-22.
• A fund of uptoRs.1 crore as one-time equity will be granted to each selected start-up
• The SAGE project aims to identify, evaluate, verify, aggregate, and deliver products, solutions and services directly to the stakeholders.
• The Ministry will act as a facilitator, enabling the elderly to access the products through these identified start-ups.

Why this initiative needed

India’s elderly population is on the rise, and as per surveys, the share of elders, as a percentage of the total population in the country, is expected to increase from around 7.5% in 2001 to almost 12.5% by 2026, and surpass 19.5% by 2050. There is an urgent need to create a more robust elder care ecosystem in India, especially in the post-COVID phase.

Other Government Initiatives for Elderly people:

• Integrated Programme for Older Persons (IPOP)
• Rashtriya Vayoshri Yojana (RVY)
• Pradhan Mantri Vaya Vandana Yojana (PMVVY)
• Vayoshreshtha Samman
• Maintenance and Welfare of Parents and Senior Citizens (MWPSC) Act, 2007
• Senior Citizen Welfare Fund
• Indira Gandhi National Old Age Pension Scheme (IGNOAPS)
• National Programme for the Health Care of Elderly (NPHCE)

Source: PIB