Suggestions of Economic Survey 2018-19 | Fusion - WeRIndia

Suggestions of Economic Survey 2018-19

Suggestions of Economic Survey 2018-19

The Economic Survey 2018-19 has proposed some suggestions including the increase in retirement age and merge of schools.

As the demographics are changing and aging population is growing in the country, the Economic Survey proposed to increase the retirement age.

A study titled ‘India’s Demography at 2040: Planning Public Good Provision for the 21st Century’ has been tabled in the Parliament. It revealed that the life expectancy for both males and females in the country may rise in the next decades leading to a prolonged old-age.

The survey also emphasized that an advanced transition may happen in some states which could turn the country to the ageing society by 2030 with slow population growth. Yet, India may benefit in the long run due to the “demographic dividend”.

The study stated that India’s population will gradually slow down faster in the coming two decades as per the demographic projections. The growth of population will be 1 per cent during 2021-31 and under 0.5 per cent during 2031-41.

This results in a decrease in newborns and thereby younger generations. The society will be with aged people.

Now India is a country of youth with half of the Indian population below 25 years and over two-thirds of the population under 35 years.

But, the demographics will be changed in the next decade. And a decline will be seen in the population growth.  A sharp decline in the Total Fertility Rate (TFR) is considered to be the reason for rapid aging.

This leads to several consequences including moving of companies that look for youth to other places.

The study suggested the government to focus on providing healthcare facilities and increasing retirement age for the aging society.

The study also revealed that school enrolment has been decreasing in some states including Andhra Pradesh, Assam, Chhattisgarh, Himachal Pradesh, Uttarakhand etc.

In this context, the report suggested the merging of schools to make them more viable. This saves the money of building new schools.

Image credit: Image by Gerd Altmann from Pixabay (Free for commercial use)

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