UN projections indicate that India's population will peak at 1.7 billion in 2061 before declining...

 India's dependency ratio, the proportion of dependents (under 15 and over 64) to the working-age population (15-64), is projected to decline significantly. This means that the number of dependents supported by each working-age individual is expected to decrease. The share of the working-age population is projected to reach its highest point, at 68.9%, by 2030, and the dependency ratio is projected to reach its lowest point at 31.2% by that year.

Key Demographic Changes and Projections:

Declining Dependency Ratio:

The dependency ratio is projected to fall from 66% in 2001 to below 50% now and further down to 45% in the 2030s.

Increasing Working-Age Population:

The share of India's working-age population is expected to reach its peak at 68.9% by 2030.

Population Peak:

UN projections indicate that India's population will peak at 1.7 billion in 2061 before declining.

Aging Population:

The share of the population over 60 years is projected to increase from 10.5% in 2022 to 20.8% in 2050.

Median Age:

India's median age is relatively young at 28.4 years, which provides a competitive advantage in terms of workforce and consumption power.

Population Growth:

India's population is projected to reach 1.67 billion in 2050 and 1.53 billion in 2100.

Population Density:

India's population density is projected to increase to 483.68 people per km².

The statement accurately describes India's demographic shift and its potential implications. A declining dependency ratio, coupled with a large working-age population, presents a significant opportunity for economic growth. However, the statement also correctly highlights the potential risk of India failing to harness this demographic dividend, which could lead to slower progress toward its goals by 2047.

Here's a more detailed breakdown:

India's Demographic Landscape:

Declining Dependency Ratio:

India is experiencing a reduction in the ratio of dependents (those under 15 and over 64) to the working-age population (15-64). This shift indicates a larger portion of the population is potentially contributing to the economy.

Larger Working-Age Population:

A larger working-age population translates to a greater potential workforce, which can drive economic growth and productivity.

Projected Population Peak:

While the working-age population is growing, India's total population is projected to peak around 2061 before declining. This means the share of older adults will increase significantly, potentially impacting the dependency ratio in the future.

Potential Risks and Challenges:

Failing to Harness the Demographic Dividend:

India needs to invest in education, healthcare, and infrastructure to fully utilize its large working-age population. If these investments are not made, the potential for economic growth could be squandered.

Challenges of an Aging Population:

As the population ages, healthcare costs and social security systems will face increased pressure. This could strain the government's resources and impact economic growth.

Uneven Growth:

India's states have varying levels of development, and some regions may not be able to fully benefit from the demographic dividend. This could exacerbate regional disparities.

Unemployment and Underemployment:

Even with a large working-age population, if there are insufficient jobs or skills gaps, unemployment and underemployment could hinder economic growth.

Conclusion:

India's demographic shift presents a significant opportunity for economic growth, but it also comes with potential challenges. By proactively investing in human capital, infrastructure, and social security, India can leverage its demographic dividend and achieve its goals by 2047. If these investments are delayed or inadequate, India could face slower economic growth and increased social and fiscal pressures.