In this episode of the Perspective Prog. based on Silver Economy: Challenges & Opportunities. 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 8.6% in 2011 to almost 12.5% by 2026, and surpass 19.5% by 2050. Given this sharp rise there is an urgent need to create a more robust eldercare ecosystem in India, especially in the postCOVID phase. The government is exploring various ways to promote the idea of silver economy. Based on the recommendations of the Expert Group on silver economy, a scheme has been launched to promote private enterprises that bring out innovation in products and processes for the benefit of the elders. This project is known as Senior Aging Growth Engine or SAGE and it will identify, evaluate, verify and aggregate the needs of elder persons to deliver products, solutions and services. Another portal SACRED Senior Able Citizens for ReEmployment in Dignity, recently launched by Vice President M Venkaiah Naidu will connect the senior citizens with job providers in the private sector. An initial sum of 100 crore rupees has been allocated for evaluating and promoting the Silver Economy in India out of which nearly Rs. 25 crore has been assigned for use in FY202122. Initial estimations suggest that at present the Silver Economy is worth approximately 73,082 crore rupees.

Guests:
1 A. K. Bhattacharya, Editorial Director, Business Standard
2 Anupama Datta, Director, HelpAge India
3 Dr. Elangovan K, Member, Empowered Expert Committee, SAGE

Anchor: Vishal Dahiya

Producer: Amit Srivastav, Sagheer Ahmad