To Overcome Low Birth Rate, Japan Govt Plans to Offer 6,00,000 Yen to Newlyweds
News 18In order to overcome the low birth rate, Japan has come up with a financial policy for its newly weds. The Japanese government will provide 6,00,000 yen to cover the living cost of couples from coming April, if they decide to stay in the municipalities, which have adopted the government’s ‘Newlyweds and New Life Support Project’, reports Japan Today. Under the current policy, couples under the age of 35 with a combined income of 4.8 million yen get a coverage of 3,00,000 yen, hence taking their fight against the falling birthrate another level ahead, the government has doubled the rate. ‘An economic incentive is deemed effective to encourage people to marry since 29.1 per cent of single men aged 25 to 34 and 17.8 per cent of single women cited lack of marriage funds as a reason they stayed unmarried in a 2015 survey by the National Institute of Population and Social Security Research’, states the report. Late marriage and rising rates of unmarried people are also two major reasons for the low birth rate.