Seniorcare Ageing Growth Engine
Source : PIB
GS I : Salient features of Indian Society, Diversity of India

Why in News ?

Minister of Social Justice and Empowerment launched the SAGE (Seniorcare Aging Growth Engine) initiative and SAGE portal for elderly persons.

Key Facts

• SAGE portal will be a one-stop access of elderly care products and services by credible start-ups.
• The SAGE portal will be opened for applications from 5th June, 2021 onwards.
• The start-ups will be selected on the basis of innovative products and services.
  • SAGE programme as per the suggestions of the Empowered Committee on start-ups for the elderly to solicit the involvement of youth and their innovative ideas for elderly care.
  • An allocation of Rs 25 crores has been made for the SAGE project in the current financial year i.e 2021-22.
  • Ministry will act as a facilitator, enabling the elderly to access the products through these identified start-ups.
• 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.
• The recommendation of the committee set up for the purpose, upto Rs 1 crore will be given to Startups for elderly care.
• The elderly persons to come forward and take advantage of the services to be provided by the up-coming start-ups and lead an active life full of dignity in society.
• Research and data-driven organizations and incubators of social enterprises are also expected to come forward to be a part of SAGE.

Elderly people in India

• 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.

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