New Delhi: The Minister of Social Justice and Empowerment, Thaawarchand Gehlot virtually launched the SAGE (Seniorcare Aging Growth Engine) initiative and SAGE portal for elderly persons on Friday and announced that upto Rs 1 crore will be given to startups for elderly care.
Gehlot said that the number of elderly people is steadily increasing in the 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.
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, the minister added.
“On the recommendation of the committee set up for the purpose, upto Rs 1 crore will be given to startups for elderly care,” he said. A fund of upto Rs 1 crore as one-time equity will be granted to each selected start-up.
Speaking at the virtual launch of SAGE, Rattanlal Kataria, Minister of State, Ministry of Social Justice and Empowerment, said that there is an urgent need 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, the Minister disclosed.
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.
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In his introductory remarks, R Subrahamanyam, Secretary, Ministry of Social Justice and Empowerment, explained that the government has now expanded its scope of supporting elderly persons not only through NGOs but generating multi-pronged interventions for them through innovative ways.
Speaking about Centre’s Elderline scheme, the first central government led helpline for the elderly people, he said, “helpline for the elders has now become operational in about 9 states and union territories."
"This is a huge support because in the pandemic era in which we are living, we see that there are about 20,000 calls which have come to this Elderline in the last 30 days. The Ministry has designed 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. This will help to make the programmes for elderly care a national movement than just a government programme," the Secretary added.
An allocation of Rs 25 crores has been made for the SAGE project in the current financial year i.e 2021-22.
The Ministry stated that 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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