As soon as the population control law is mentioned by the Union Minister, the discussion has started gaining momentum again whether India's large population is a resource or a burden for it. The economic aspect of the population is also being considered. Before jumping to conclusions on this issue, we should know that more than 65 percent of India's population is of working age i.e. between 15 to 59 years. In this too, 27-28 percent are in the age group of 15 to 29 years. 

An increase in the percentage of the working population reduces the percentage of the population dependent on others, i.e. those under 14 and over 60. india today is in a situation where the working population is very high and the dependent population is very less. This is a very good time from an economic point of view.

The situation in canada is opposite to that of India.

India's demographic diversity can be harnessed to drive economic growth through a number of steps. Not only this, on the strength of its young population, india has become a factory of talent for the world. We are providing from teacher to CEO and software engineer. Also we have skilled workforce. On the other hand, the situation in countries like canada is getting worrisome. On the one hand, increasing life expectancy has enabled people to live longer, while on the other hand, the population is increasing very slowly due to low birth rates. As a result, the percentage of elderly people in the population has increased. Over time canada will face a shortage of working population and this will have a direct impact on the rate of economic growth. Along with this, the country's expenditure on the health and safety of the elderly population will also increase.

Time for india to take advantage of the working population

According to a study by the United Nations population Fund, india has a period from 2005-06 to 2055-56 to take advantage of a large working population, more than any other country. This may vary slightly due to different demographics of the states. However, while computing the benefits of the population, we also need to keep in mind that the working population cannot benefit by itself. For this, there is a need to analyze the labor market and focus on policies. To take advantage of this population, the government will have to increase expenditure in the field of education and health.

LFPR to remain high

It is also necessary that the number of people working or looking for employment in the country remains high. This is called LFPR. Many people lost their jobs during the pandemic. Many of these people gave up looking for jobs out of desperation. This is not a good situation. 

The LFPR should be high, along with it it is necessary that the availability of good jobs in the country should be maintained. During the recent worldwide COVID-19 pandemic, some important steps were taken to organize the large population of the country working in the unorganized sector. There is a need to encourage such initiatives. Investment in skill development and infrastructure will help the country to take full advantage of its large population.