India, home to 17% of the total world population is a country, which has 1.3 billion people as its citizens, each year the growing statistics of Indian population has been causing great concern among the country’s growth given the limited resources. Researchers are diverting their attention towards this issue and awareness is growing by the day. The biggest drawback with growing population is that in the first 20 years of the consensus, the unskilled labour were becoming a huge part of the population, it was only in the late 20th century that skilled people began to contribute. #ThinkWithNiche
Population can be a huge determining factor for a country’s economic growth and some weaknesses that it might deal with. The latest figures of India’s consensus offers an interesting outlook as to where the policy makers need to focus. Although India's growing population offers economic challenges, it is still an asset to the nation as a whole. Following the neoclassical model of growth, India has reached new heights because of the growing skilled population. Our GDP has achieved a steady growth rate and is ranked top among the developing countries of the world. With the continuous rise in population of young Indians, India is growing ‘younger’. This has given us the advantage of a ‘demographic dividend’ which can be explored with the right kind of possibilities of providing jobs to the younger and skilled Indians. A report in collaboration with UN HABITAT suggests that in about seven years from now, every third Indian will be a city dweller, with a median age of 29 years, making India the youngest country. Let us now take a look at the benefits that can be drawn from a growing youth population-
1. Economic Boost
India has become the fastest growing economy of the world, probably due to our rising population providing a positive effect in our long term economic growth plans. If the center acts quickly, it can achieve a staggering growth in the health infrastructure sector, education and employment sector with the help of the ‘demographic dividend’ which has the potential to inject new dynamic stability to the economy.
Currently India’s 50% population is less than 25 years of age, which provides direct benefit of employing a younger workforce for socio-economic activities that will act as an innovative space for the youth of the country, and prevent the brain drain from the country.
3. Increased Productivity
India stands at a position where its increasingly young skilled population has resulted in increased productivity and as a result, there is an increased output of goods and services. This means that the nation can now keep up with the rising demands of the population, without inflation, making goods affordable for the poor.
4. Work Opportunities
Given India’s wide range of colleges and universities, there are about 2.5 million graduates of IT and life sciences each year, as well 650,000 post-graduates in IT and other sciences, our growing sector employs 850,000 graduates in the ITs and others join pharmaceutical and biotechnological companies. The job opportunities for doctors and engineers in our country are widely available, making them the most popular employment options.
Researchers and economists have pointed out that only because of India’s huge population has India been able to manage to feed its rural people, otherwise as compared to other developing countries, India would have been starving. Our people are our strength, their collective effort today has resulted in us becoming the world’s fastest growing economy. Our agriculture sector is top ranked and has resulted in a top GDP production, yet again the collective power of our citizens as a whole, as one force.
Saluting this great motherland, always proud and always bowed down in front of its glory.