According to a report by The Lancet, fertility rates in India are declining. In 1950, it was 6.2, but it has declined to around 2 in 2021. It can have several impacts on the future of the nation, such as an ageing population, workforce shortage, and economic stress.
According to the study by The Lancet, India's fertility rates are declining, placing it alongside other Asian countries such as South Korea, Japan, and China, whose economies are grappling with low birth rates.
As per The Lancet India's birth rates have experienced a significant decline, dropping from 6.2 in 1950 to nearly 2 in 2021. Experts believe the number might decline to 1.29 by 2050 and even 1.04 by 2100. Such a low birth rate can create a drastic shift in the population balance and can reduce the working population while increasing the elderly population.
Low birth rates and India's futureIndia's declining birth rate can induce a wave of imbalances and challenges in the country, with different sectors such as the economy, health, and education suffering. It will be a daunting task for policymakers to plan according to the shrinking workforce and growing ageing population. The following are some potential significant effects of decreasing fertility rates on India's future:
Ageing population
As the decline continues, the balance between the elderly population and youth will be disrupted. This will lead to increased pressure on the healthcare and security sectors, resulting in financial stress.
Shortage of working force
Few birth rates result in fewer people joining the workforce and an overall decline in economic growth. The shortage in the workforce affects several sectors including healthcare services, manufacturing, transportation, and others.
Income inequality
The decline in birth rates promotes income inequality by ensuring that wealth remains within affluent families.
Possible benefits
Experts believe that a reduced population can help many Asian countries with resource management, fair opportunities for all, fair wages, better housing and infrastructure planning. It can also improve the female literacy rate and more inclusion of women in the workforce.
Also Read: Unemployment surges to 83% among youth of India: ILO-IHD Report 2024
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