India’s elderly population (aged 60 and above) is projected to touch 194 million in 2031 from 138 million in 2021, a 41 per cent increase over a decade, according to the National Statistical Office’s (NSO) Elderly in India 2021 report. This points towards a concept called 2nd Demographic Dividend, where the accumulated wealth of the elderly can be put to use in both economic and human development of the country.
Given the importance, it becomes imperative to have policies specifically designed for geriatric care. The policies must focus on rectifying the following issues faced by the elderly population:

• Health issues: With growing age, various anatomical and physiological changes often lead to reduced immunity, poor health and morbidity. Also, the rising costs of healthcare necessitates proper policy framework to cater to the needs of this section of the population.
• Income insecurity: Retirement and subsequent loss of income aggravates issues related to costly geriatric healthcare, lowering of self-esteem, etc.
• Adoption of technology: Technology has a significant role to play in positive ageing. However, the elderly often struggle in understanding and adopting various new and emerging technologies. Policies must focus on bridging this digital divide for them.
• Awareness generation: Inaccessibility to social security schemes owing to lack of awareness about the schemes for the elderly, eligibility criteria and cumbersome procedures are some of the major reasons for low accessibility.
• Framing holistic laws: Currently, the Maintenance and Welfare of Parents and Senior Citizens Act, 2007, is applicable prospectively. As a result, many elderly persons who transferred their property before the enactment of the Act cannot take legal action against their children. Also, the Act does not contain any assurance for the childless elderly.

Addressing these issues through a comprehensive policy is crucial for India’s development due to the following reasons:

• Economic development: The elderly population makes substantial contributions to the economy through participation in the formal or informal workforce (often beyond retirement age), taxes and consumption, and transfers of assets and resources to their families and communities.
• Unpaid care work: Elderly persons, particularly women, play a vital role in providing unpaid care for spouses, grandchildren and other relatives, including those with disabilities.
• Political participation: With variation across contexts, the elderly in some countries, notably in advanced democracies, can carry significant weight, which is mostly associated with the concentration of economic resources and a tradition of political participation.
• Social capital: Many elderly persons tend to be actively involved in community and civic life through volunteering, governance of public institutions, and participation in community-based institutions.

With the growing proportion of the elderly persons in the global population, there is greater acknowledgement of the importance of ageing, as it provides significant opportunities for sustainable development.