India enters 37-year period of demographic dividend

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  1. According to studies, India has entered a 37 year period of demographic dividend since 2018.
  2. The period of demographic dividend will last till 2055. This has been created as India’s working-age population (people between 15 and 64 years of age) has grown larger than the dependant population (children aged 14 or below plus people above 65 years of age)
  3. United Nations Population Fund (UNFPA) defines demographic dividend as the growth potential that results from shifts in a population’s age structure. The transition happens largely because of a decrease in the Total fertility rate (TFR) (the number of births per woman), after the increase in life expectancy gets stabilised.
  4. However, it is important to note that Demographic dividend provided by the increasing share of working age adults is a temporary phase. To reap the benefits of demographic dividend, India should invest in the education and health of the workforce and provide employment opportunities to the youth.
  5. Examples of countries who successfully reaped the benefits of demographic dividend and experienced rapid growth because of changing population structure include Japan, China and Singapore.