SAGE( Seniorcare Ageing Growth Engine) initiative and SAGE portal
GS PAPER I: Salient features of Indian Society, Diversity of India.
Context: The Minister of Social Justice and Empowerment, virtually launched the SAGE (Seniorcare Aging Growth Engine) initiative and SAGE portal for elderly persons
- It 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, 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.
- As number of elderly people is steadily increasing in our country, so there is a need to keep in mind that the elderly should remain happy, healthy, and financially and physically active for which a Senior Citizen Welfare Fund was started in 2016.
- Taking forward the service programs related to senior citizens, this Seniorcare Ageing Growth Engine (SAGE) portal has now been launched.
- 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.
- SAGE programme and SAGE portal have been launched with a view to help such persons who are interested in entrepreneurship in the field of providing services for elderly care.
- Up to Rs 1 crores will be given to Startups for elderly care. An amount of Rs 100 crore has been assigned for the promotion of the silver economy.
- The start-ups selected under SAGE will be those which will provide new innovative products and services to elderly persons in various areas like health, travel, finance, legal ,housing, food among others.
- 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, will help to make the programmes for elderly care a national movement than just a government programme.
- An allocation of Rs 25 crores has been made for the SAGE project in the current financial year i.e 2021-22.
- The SAGE project is shaped on the recommendations of the empowered expert committee (EEC) report on start-ups for elderly.
- 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.