International Day of Older Persons, 2024

Syllabus: GS1/ Society, GS3/ Economy

Context

The International Day of Older Persons, is commemorated on 1 October each year.

Origin: The idea was initiated by the United Nations. It stems from the Vienna International Plan of Action on Aging, which was adopted in 1982 by the World Assembly on Ageing.
- UN General Assembly Resolution: In 1990, the UN General Assembly formally established October 1 as the International Day of Older Persons through Resolution 45/106.
Objectives: To raise public awareness about the opportunities and challenges with ageing populations and to mobilize the families, community groups and stakeholders to address the difficulties faced by older people.
Theme for 2024: ‘Ageing with Dignity: The Importance of Strengthening Care and Support Systems for Older Persons Worldwide’.

As of 2021, India had around 138 million elderly persons (aged 60 years and above), accounting for roughly 10% of the total population.
According to projections, by 2050, the elderly population in India is expected to reach around 319 million, making up approximately 19.5% of the total population.

Increasing Life Expectancy: The life expectancy in India has increased from around 50 years in 1970 to approximately 70 years in 2023 due to better healthcare and living conditions.
Declining Fertility Rate: India’s fertility rate has declined over the years, leading to a shrinking younger population and a rising proportion of older persons.

Health Issues: Older persons in India commonly face non-communicable diseases like diabetes, cardiovascular issues, and arthritis.
Economic Dependency: Many elderly individuals in India are financially dependent on their children or families due to limited pension coverage and savings.
- Only about 30% of the elderly are covered by some form of a pension scheme.
Elder Abuse, especially emotional and financial neglect, is an issue in many families.
Social Isolation: Changing family structures, with nuclear families becoming more common, resulted in increased social isolation for the elderly, particularly in urban areas.

Senior Able Citizens for Re-Employment in Dignity (SACRED) portal to connect senior citizens with job providers in the private sector.
Senior care Ageing Growth Engine (SAGE), by the Ministry of Social Justice and Empowerment, to promote and incentivise senior care products.
National Policy on Older Persons (NPOP): It was formulated in 1999 to guide the development of policies and programs aimed at promoting the well-being of senior citizens.
Rashtriya Vayoshri Yojana (RVY): Provides physical aids and assisted-living devices to elderly persons belonging to BPL categories and suffering from age-related disabilities.
Atal Vayo Abhyuday Yojana: It includes awareness generation/sensitization programmes with school/college students for strengthening Inter-generational bonding.
Senior Citizens Savings Scheme (SCSS): It is a government-backed savings scheme designed specifically for senior citizens to provide them with a steady source of income.
The Ayushman Arogya Mandir (AAM) initiative is providing comprehensive healthcare through Health and Wellness Centres.
- It focuses on preventive, promotive, curative, and rehabilitative care, using multiple traditional health systems like Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homeopathy (AYUSH).

Silver Economy: It refers to economic activities, goods, and services designed for the growing elderly population.
- This demographic, particularly those aged 45-64 years, is considered the wealthiest, creating a lucrative market for products and services catering to their specific needs.
Health and Wellness Industry Growth: Healthcare accounts for one-third of the consumption by older adults and there is a significant opportunity for businesses in senior care, health services, and wellness sectors.
Elder Care Services: The rising elderly population will increase the demand for elder care services such as home care assistance, nursing homes, retirement communities, and assisted living facilities.
Senior-Friendly Tourism: With more disposable income and time, the elderly population is likely to drive demand for senior-friendly travel and tourism.

As India’s aging population increases, there is a critical need for solutions that promote healthy aging, financial security, and social inclusion.
Leveraging advancements in health technology, infrastructure, and senior care services, the silver economy can transform aging into a dynamic opportunity for both economic growth and societal well-being.

Source: PIB

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