The Future of India's Economy - Research Paper Example

Most countries in the western world are facing declining proportion of working-age population due to aging; however, there is not going to be much change in the proportion of a working-age population of India in the years ahead. Aging population proportion is increasing every year across most developed economies and reasons attributed to the phenomenon are a reduction in fertility rates and gains in overall longevity of men and women. Only India and South Africa will have a higher share of the working-age population.

In 2011, the working-age population in India, age 15-64, is estimated at nearly 65 % of the total population that will increase further to around 68% in 2030. Though it will decline slightly in 2060 in proportion to the total population, it will still be higher in percentage terms when compared with its level of 2011. This is important because most of the developed economies including Japan, the US, and China, the proportion of this working class would have reduced to less than 60 percent (Johansson et al. p14). From the table, it is amply clear that its annual population growth rate would be even lower than the US; however, it will be higher than China, which shows a negative growth rate in 2060.

By 2060, India will be the top country in terms of population in the world. Crude death rate per thousand will be lesser than the US and China perhaps due to a relatively younger population in comparison to these countries. The infant mortality rate is an important indicator of health policies that prevail in the country, and on that count, it will still remain significantly higher than both the countries in comparison. Life expectancy for male and female both would have reached at the decent levels by then.