Demographic Dividend Essay
Demographic dividend refers to a period, usually 20 to 30 years, when fertility rates fall due to significant reductions in child and infant mortality rates. As families realize that fewer children will die during infancy, they begin to have fewer children to reach their desired number of offspring, further reducing the proportion of dependents. This fall is an extension in average life expectancy that increases the portion of the population that is in working age-group. This cuts the spending on dependents and spurs economic growth.
This drop in fertility rates is not immediate. The gap between produces a generational population bulge that surges thorough the society. For a period of time, this bulge is a burden on society and increases
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Women have fewer children than before. They are better educated and are not confined now to their home only. Women are employed in jobs and are also productive. This force plays a vital role in helping any countries economy to take-off.
Savings: The demographic transition affects the savings, which in turn affects the prospects of investment and growth. Working-age adults tend to earn more and can save more. Personal savings grow and serve as a partial resource for industrial investments that stimulate economic growth. The increase in national savings rates increases; it leads to higher productivity as the accumulated capital is
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The global economy is expected to witness a skilled manpower shortage to the extent of around 56 million by 2020. Thus the demographic dividend in India needs to be exploited not only to expand the production possibility frontier but also to meet the skilled manpower requirement of India and abroad. To reap the benefits of demographic dividend the 11th Five Year Plan has favored the creation of a comprehensive National Skill Development Mission. It consists of The Prime Minister’s National Council on Skill Development (NCSD), National Skill Development Coordination Board (NSDCB) and National Skill Development Corporation (NSDC).
Various strategies for the 12th Plan improved access to quality education, better preventative and curative health care, enhancing skills and faster generation of employment are being finalized to ensure greater productivity of Indian workers.
After the Demographic
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