Here we will try to find out the condition of Demographic Dividend in India and also the meaning of demographic dividend.
What do you mean by demographic dividend?
The simple mean by demographic dividend is that, When the working population of any country become more than the dependent population than this condition is called as demographic dividend of that country. The working population and dependent population both are divided on the basis of age. The age group of 0-14 i.e. children are considered as the dependent population of the country and the age group of 15-64 are our working population and age group of above 65+ are also considered as the dependent population.
So we can say that only the age group of 15-64 are working population because they have the capacity to do works.
In the simple words we can say that where the age group of 15-64 are more in the ratio of age groups of 0-14 and above 65+ than it is considers as the condition of demographic dividend. Now the main aim of demographic dividend is to take profit from the increasing working population. We have to find out the way, How we will use our working population by which they can give more help for the economics development of country.
Demographic Dividend in India
The Demographic Dividend in India can be find out by the percentage of age groups ,So India have 27.3% age group of 0-14 and the percentage of age group of 15-64 is 66.77%, this is our working population and the percentage of age group of above 65+ is only 6.18%. India have more percentage of working age group than dependent age group. This is a very good sign for Indian economy.
Does India have a demographic advantage today?
Yes, India have a demographic advantage today because India have a huge level of working population in comparison of other nations and the working population of India is increasing continuously. In the year of 2008 the percentage of working age group is 63% and now it is approximately 66%. According to a data the working age group of India is increasing continuously up to 2035-2040. So we can say that India have many years to take advantage of this condition.
The International labor origination told that 21st century will belong to India because India have main 3 properties that is a good democracy, demand of goods and demographic dividend and on the basic of these properties India can take a huge advantage which will give positive impact on the Indian economy.
When the economy have high working population than that economy have high level of shaving and investment and when shaving and investment are high in any economy than it gives positive impact on the economy of that country.
How we can take advantage from demographic dividend?
The Indian government have to start many programs which help in developing the skills of increased population. The programs of government should more focus on the development of education ,health and employment. By the help of these programs we can take advantage of Demographic Dividend in India.
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