Spread this post

The whole world has been affected by the coronavirus epidemic. The elderly, on the other hand, who are already dealing with the hard realities of life, were particularly affected. The epidemic also compelled everyone to consider and promote the concept of a “silver economy,” which would result in the creation of various levels of housing and infrastructure facilities for elderly adults, allowing them to live in dignity and safety.

India’s elderly population is on the rise. It needs to acknowledge senior care as a sector since the country’s elderly population, which was estimated to be 104 million in 2011, is predicted to quadruple to 300 million by 2050.

There is an urgent need to create a more robust elder care ecosystem in India. A scheme has been launched to promote private enterprises that bring out innovation in products and processes for the benefit of the elders. An initial sum of 100 crore rupees has been allocated for evaluating and promoting the Silver Economy. The silver economy is a manufacturing, distribution, and consumption system targeted at maximizing the purchasing power of senior citizens and meeting their consumption, living, and health needs. It is studied as an instrument of aging policy and the political concept of building a needs-oriented economic system for the aging population in the subject of social gerontology.

The 1970s in response to an increase in the availability of amenities. Healthy aging is defined by the World Health Organization as “the process of developing and preserving functional ability that permits wellbeing in later life.”

According to India’s National Elderly Policy, people aged 60 and up are considered elderly. According to the 2011 Population Census, India has over 104 million senior people. From 5.5 percent in 1951 to 8.6 percent in 2011, it has risen steadily. Over 73 million people, or 71% of the senior population, live in rural areas, while 31 million people, or 29% of the elderly population, live in cities.

Taking into account, the suggestions of an expert committee, which has requested for senior care to be both economically sustainable and a source of economic development a debate held by the Ministry of Social Justice and Empowerment. The committee emphasized the importance of recognizing aged care as a sector with suitable legislation and standards, tax frameworks, policy support, subsidized financing, and governance procedures. The group also proposed flexible career models to invite senior citizens to work for longer periods of time. The proposals also included reskilling and the use of smart work practices.

Longitudinal Ageing Study of India (LASI) Wave-1, India Report: LASI is a large–scale nationwide scientific study of the physiological, economic, and social factors and implications of India’s population aging.

Many initiatives have been taken by the Indian Government in the past to tap the pool of retirees to enhance India’s workforce with skilled and experienced workers. These initiatives focus on uplifting the lives of senior citizens and helping them have a safe and secure life.

Shreenithi KC

Creative Content Intern at Aapkilathi.