Declining fertility, not rising life expectancy, causing India to age faster: Dr Srinivas Goli

Discussing the window of opportunity, Dr Goli stated that a higher working-age population and a lower dependent population lead to more production and savings and lesser consumption. “India entered this phase (window of opportunity) in 2005. In 2015, the ratio became strong and it will last up to 2061 but will be more effective under 2045. However, because of faster ageing, several states now have already crossed the oldest dependence ratio of 15 and soon they will go out of this window of opportunity period. In other words, we are reaping the dividends (of a younger population), but there is a much more potential available to reap,” he said.

Talking about the reason for the declining fertility rates across the country, Dr Goli explained how urbanisation leads to more cost of living.

“If the cost of living rises, people are more afraid of having more children because the cost of education, health care and having a good house rises. Aged marriage in certain populations is increasing due to unemployment because, in the marriage market, employment is becoming such an important parameter for getting marriage proposals. Today, having a livelihood is not a need. People are looking more at self-actualisation, having a decent life, having time for self, looking for self-esteem, and looking for happiness in life. So the needs are also changing,” he said.