DEMOGRAPHIC DIVIDENDS MAY SOON LEAD TO CRISES OF SORTS!

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  • As we grew up, one of the most often heard, discussed, and passionately debated topics was about the unchecked growth of population across the country. The way the topic was discussed not only resonated with every stratum of society but also prompted the government authorities to step in to address this ticking time bomb, with great concerns raised about the shortfall of resources to sustain existence. Thus, the government authorities stepped in to introduce various population control measures to check the unprecedented explosion that was envisaged as not a sound strategy for the growth of the nation. The age-old practice of producing several progenies came to be restricted, with encouragement to have no more than two children.

India will become the world's most populous country in 2023

PC: The Economist

  • The sustained campaign to restrict population from going out of control apparently has started yielding results though India has become the most populous country in the interim overtaking China. Of course, as the saying goes the life always comes a full circle, Indians having fewer kids over the decades is causing concerns among the authorities of late owing to anticipated enormous social and economic implications. Also to be considered a big part of fertility decline is the rising cost of raising a child apart from other social indicators. Even government’s baby bonuses hardly suffice. Make no mistake, it isn’t women’s fault! Yes, make elders take all their grump out on today’s women wallowing in more self-indulgence than yesterday’s.

America's fertility rate continues its deep decline

PC: The Economist

  • If by this they mean that a woman now has more reproductive agency, instead of helplessly bearing as many children as her husband or in-laws tell her to, yes, that’s welcome progress towards equality and freedom of choice. Further, as UN’s The Real Fertility Crisis report highlights, parenthood aspirations have been changing for both men and women. When asked what factors have led or are likely to lead them to have fewer children than they initially desired, a high 38% Indian respondents named financial limitations. Governments across the world like to scold their citizens for not having more children. There is a deep irrationality to this. Surely if blame’s to be thrown, it should be at governments themselves, for failing to create economic security.

Rising Cost of Child Care Services a Challenge for Working Parents

PC: U.S. Census Bureau

  • That’s a precondition for citizens realizing their family formation goals. Take for instance, in the US, the annual cost of raising a child goes from $16K in Mississippi to $36K in Massachusetts. China, crazily, can be even more expensive. In India, a Logic Stick study has ranged the cost of raising a child to 18 years between Rs.30L and Rs.1.2cr. Some of the cost increases can be put to cultural change, an intensification of parenting. But there are also broader inflationary pressures across education, healthcare, and housing. Plus, there is job insecurity or unemployment. As many as 21% Indians said this is a barrier to having children, compared to 5% Swedes. Note that fertility rises when hope does. The government authorities should concentrate on improving life standards.