Challenges associated with the demographic dividend are i Asymmetric demography ii Lack of skills ii...........

Economic and Social Issues Population Trends

According to United Nations Population Fund (UNFPA), demographic dividend means, "the economic growth potential that can result from shifts in a population’s age structure, mainly when the share of the working-age population (15 to 64) is larger than the non-working-age share of the population (14 and younger, and 65 and older)".The general opinion about Indian demography has been mainly about the young workforce, which is bound to give dividends to India. It implies that India is going to remain likethat. However, the data from the 4th National Family Health Survey (NFHS-4) 2015-16 for the survey period 2013-15 has signaled a monumental shift in modern Indian demographics, as India’s total fertility rates have seen a change. With the Total Fertility Rate now below the replacement rate, Indian population growth has moved past its peak. It signals that the growth of number of youth in the country is on the decline, as the population pyramid has inverted for the first time ever.With fewer births each year, a country’s working-age population grows larger relative to the young dependent population. With more people in the labor force and fewer children to support, a country has a window of opportunity for economic growth if the right social and economic investments and policies are made in health, education, governance, and the economy.

Challenges associated with the demographic dividend are

i Asymmetric demography

ii Lack of skills

iii Low human development

iv Jobless growth

Select the correct answer using the code given below:

i. ii and iii only

ii, iii and iv only

ii and iv only

iii only

All of the above

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Explanation:

Challenges Associated with Demographic Dividend

Asymmetric demography: The growth in the working-age ratio is likely to be concentrated in some of India’s poorest states and the demographic dividend will be fully realized only if India is able to create gainful employment opportunities for this working-age population.

Lack of skills: Most of the new jobs that will be created in the future will be highly skilled and lack of skill in Indian workforce is a major challenge. India may not be able to take advantage of the opportunities, due to a low human capital base and lack of skills.

Low human development parameters: India ranks 130 out of 189 countries in UNDP’s Human Development Index, which is alarming.Therefore, health and education parameters need to be improved substantially to make the Indian workforce efficient and skilled.

Informal nature of economy in India is another hurdle in reaping the benefits of demographic transition in India.

Jobless growth- There is mounting concern that future growth could turn out to be jobless due to de-industrialization, de-globalization, the fourth industrial revolution and technological progress.