As fertility rates decline in India, future demographic concerns center around an aging population and frail social security system. Discuss. (Answer in 250 words)

Demographic concerns:

1. Reduced demographic window as TFR falls below 2.0 (replacement level is 2.1)

2. Increased fiscal burden on State as working age population retires (60-65+)

3. Increased burden on healthcare system → geriatric cases, palliative care [citizens 12% of population in 2021]

4. Lack of financial inclusion amongst rural elderly and rural elderly women.

5. Low enrollment in social security schemes for middle class.

[Table showing:

Upper Class / Middle Class / Poor Sections

Private Insurance: Health/Life / Unaffordable / PM-JAI, PM Pension, Atal Pension

]

Thus, to address weak social security system:

1. Need improvements in healthcare (reduction in out of pocket expenditure)

2. Need provision of old-age homes as family structures change.

3. Need more productive jobs for youth. (Youth earnings) → (Pension schemes for retirees)

4. Need to address digital divide: among rural and urban populations (30% rural women use internet)

5. Address digital literacy: for aging populations.

6. Address regional divide: lower of dividend will be states such as UP, Bihar, Jharkhand were TFR > 2.0.

7. Harness silver economy: by opening internships for retirees

8. Improve women workforce participation → end income inclusion → provide safety of savings and independence.

A declining TFR is hard to reverse as seen in countries like Japan. India's per capita GDP said to grow by 43% by 2061. To reap this dividend, one must also focus social security that fosters a healthy population.

— BHAVIKA CHOFRA · AIR 25