Sage Portal - Features and Initiatives
By : Neha Dhyani
Updated : Mar 4, 2022, 13:28
SAGE (Senior care Aging Growth Engine) project and SAGE site for senior people were digitally launched by the Ministry of Social Justice and Empowerment. The Sage Portal will help the elderly in becoming self-sufficient.
The Silver Economy
- The silver economy is a system of goods and service production, distribution, and consumption geared at utilising the purchasing power of older and ageing people and meeting their consuming, living, and health needs.
- In the discipline of social gerontology (the study of ageing), the silver economy is studied as an instrument of ageing policy and the political idea of building a possible, needs-oriented economic system for an older society rather than as an existing economic system.
- Gerontechnology (Age-related technology) is a crucial component, serving as a new scientific, research, and implementation paradigm.
- Rs 100 crore has been assigned to promote the silver economy.
Sage Scheme - Overview
- The SAGE portal will provide "one-stop access" to trustworthy start-ups' senior care products and services.
- It was established to assist people interested in starting a business offering aged care services.
- The goal of the initiative is to find, analyse, verify, aggregate, and provide products, solutions, and services to stakeholders directly. The Ministry will function as a facilitator, facilitating access to items for the elderly through identified start-ups.
- Through a dedicated portal, start-ups can apply to be a part of SAGE.
- SAGE will pick start-ups that will bring new creative products and services to the aged in various areas, including health, travel, finance, legal, housing, and food, among others.
- In the current fiscal year, 2021-22, INR 25 crores has been set aside for the SAGE project.
The Need for the Initiative
The proportion of elderly in the country's entire population is predicted to rise from roughly 7.5% in 2001 to nearly 12.5% by 2026 and surpass 19.5% by 2050.
Other Government Initiatives for the Elderly
Integrated Programme for Older Persons (IPOP)
- The scheme's primary goal is to improve the quality of life of older people by providing necessities such as shelter, food, medical treatment, and recreational opportunities.
Rashtriya Vayoshri Yojna (RVY)
- This is a public-sector programme supported by the Senior Citizens' Welfare Fund. In the year 2016, the fund was notified.
- Its goal is to assist and assist living devices to seniors living below the poverty line (BPL) who have age-related problems such as low eyesight, hearing loss, tooth loss, and locomotor disabilities.
Pradhan Mantri Vaya Vandana Yojna (PMVVY)
- PMVVY was established in May 2017 to provide social security to the elderly.
- It is a pension plan for senior citizens that provides monthly, quarterly, half-yearly, or annual guaranteed returns for a term of ten years. This will only be available to people who are at least 60 years old.
It was given as a national honour to famous elderly citizens and institutions in several categories for their services on October 1st, the International Day of the Elderly.
The Indian Government has launched several schemes to support the elderly in society. You must memorise these acts and schemes as they can be asked in your exams.
FAQs on Sage Portal
Q.1) What is the purpose of the Sage Portal?
The SAGE portal would enable "one-stop access" to reputable start-ups' senior care products and services.
Q.2) What budget has been set aside to support the silver economy?
Rs 100 crore has been set aside to promote the silver economy.
Q.3) What does PMVVY stand for?
The PMVVY stands for Pradhan Mantri Vaya Vandana Yojana.