Don't overestimate India's demographic dividend

Summary

Over the past few decades, fertility rate (births per woman) in India has fallen from over 5 to just above 2. As child mortality rate fell thanks to better medical care, Indian families no longer need to have numerous children to ensure the succession of the family. A fall in the fertility rate is said to bring a bundle of significant economic benefits, often known as the demographic dividend. Indeed, empirical evidence suggests that India has greatly benefited from the dividend.

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