In this article, we will discuss India’s Demographic Dividend. So, let’s get started.
India’s Demographic Dividend
- According to the United Nations Population Fund (UNFPA), demographic dividend means the economic growth potential that can result from shifts in a population’s age structure.
- Mainly when the share of the working-age population (15 to 64) is larger than the non-working-age share of the population (14 and younger, and 65 and older).
- Median Age:
- The median age in India is 28 years., compared to 38 in China and the US, 43 in Western Europe, and 48 in Japan.
- Diversity in India’s States:
- While India is a young country, the status and pace of population ageing vary among States.
- Southern States, which are advanced in demographic transition, already have a higher percentage of older people.
- While Kerala’s population is already ageing, in Bihar the working age cohort is predicted to continue increasing till 2051.
- The differences in age structure reflect differences in economic development and health of the states.