Working-age Indian population rising: SBI Research

25 Sep 2024 Evaluate

SBI Research in its latest report has said that the working-age population in India has witnessed an increasing trend since 1971 and is projected to reach 64.4 per cent in the soon-to-be exercised Census. the report asserted that It will further increase to 65.2 per cent in 2031. The working age population, people in the age bracket of 15-59, rose from 55.4 per cent in 1991, to 56.9 per cent in 2001, 60.7 per cent in 2021. Further, it said the average annual growth is on a downward trajectory and is expected to decline from 2.20 per cent in 1971 to 1.00 per cent in 2024, putting the national population somewhere in the range of 138-142 crore in 2024.

It mentioned state-wise incremental share in total population growth reveals the share of southern states, mainly Tamil Nadu, Andhra Pradesh and Telangana the growth to decline while northern states, led by UP and Bihar drive the growth. North and Eastern regions together are expected to have 52 per cent share in the entire population. The administrative work to hold the long-delayed countrywide census is reportedly underway. The last decadal census was conducted in 2011 and the latest was due in 2021. The 2021 census exercise was delayed citing the then-COVID-19 pandemic and has been on hold since then. The Census provides key socio-economic and demographic data to policymakers and plays a crucial role in governance. The first census exercise was conducted in 1872. The soon-to-be-exercised census is likely to begin soon providing a range of data of a digital-heavy India that has undergone rapid changes in the last decade or so.

As per population census data, the share of children in the age group 0 -14 years increased till 1971 and gradually declined thereafter. In 2024, according to the SBI Research report authored by Group Chief Economic Adviser Soumya Kanti Ghosh, the proportion of children in the age group 0 -14 years is projected to be 24.3 per cent whereas it was 30.9 per cent in 2011. The proportion of elderly persons has been ever-increasing since 1951 and is projected to reach 10.7 per cent in 2024 and is likely to further increase to 13.1 per cent in 2031.

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