Please enable JavaScript.
Coggle requires JavaScript to display documents.
Silver Economy: Challenges & Opportunities - Coggle Diagram
Silver Economy: Challenges & Opportunities
What is Silver Economy?
Goods and services for older and ageing people
To satisfy their consumption, living and health needs
Dedicated to the elderly in our societies
Why focus on senior citizens?
High population
High income/savings
Wealth accumulation
Silent drivers of economy
Senior citizens in India
Set to become 19.5% by 2050
India’s elderly population is on the rise
Issues
Burden of diseases
Western economies will remain the top
“New Seniors” will be in Asia and less wealthy
Issues in India
Increased retirement age
Second-life income
High population
Low insurance penetration
Dependency
Key initiatives
SACRED- Senior Able Citizens for Re-Employment in Dignity Portal
Rashtriya Vayoshri Yojana (RVY)
Senior Aging Growth Engine or SAGE Project
Pradhan Mantri Vaya Vandana Yojana (PMVVY)
National Policy for Senior Citizens, 2020
Way forward
Regulatory mechanism
Financial assistance
Universal pension program
Conclusion
Healthy work-life balance
Needs robust policy support
Seniors can help elevate the economy