South Asia, India risk squandering demographic dividend: World Bank
8 months, 3 weeks ago

South Asia, India risk squandering demographic dividend: World Bank

The Hindu  

The World Bank has warned that the South Asia region including India was not making use of its demographic dividend as the pace of job creation in the region fell well short of the growth in the working-age population, even as it projected a strong 6.0-6.1% growth for 2024-25 for the region in its South Asia regional update, Jobs for Resilience, released on Tuesday. Observing that India’s employment growth was “well below” the average growth in its working age population for the 2000-23 period, the multilateral lender said consequently the country’s employment ratio had declined more than in any other country in the region except Nepal up till 2022. Noting that India’s economy was expected to post a “robust growth” of 7.5% in FY23/24, the lender said this expansion coupled with recoveries in Sri Lanka and Pakistan, was largely driving the strong numbers for the South Asian region. Still, the region could have 16% higher output growth if the share of its working-age population that was employed was on a par with other EMDEs, said Franziska Ohnsorge, World Bank Chief Economist for South Asia.

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History of this topic

India to contribute 20 pc of global workforce growth between 2023-2050, China share to decline: Report
1 month ago

India to contribute 20 pc of global workforce growth between 2023-2050, China share to decline: Report

Live Mint  

New Delhi, : India is set to play a pivotal role in global workforce growth, contributing 20 per cent of it between 2023 and 2050, according to a report by Angel One Wealth. It said "By 2030 high-income households are expected to triple, while middle-income households will nearly double making India the fastest-growing nation in terms of per capita income". …

India to contribute 20 pc of global workforce growth between 2023-50, China share to decline: Report
1 month ago

India to contribute 20 pc of global workforce growth between 2023-50, China share to decline: Report

New Indian Express  

NEW DELHI: India is set to play a pivotal role in global workforce growth, contributing 20 per cent of it between 2023 and 2050, according to a report by Angel One Wealth. It said, "By 2030 high-income households are expected to triple, while middle-income households will nearly double making India the fastest-growing nation in terms of per capita income". The …

Shrinking South: The Demographic Dilemma of India's Southern States
1 month, 3 weeks ago

Shrinking South: The Demographic Dilemma of India's Southern States

New Indian Express  

The demographic transition of India has passed through various stages in different regions, with the southern states facing a demographic disadvantage due to the aging population. Kerala and Tamil Nadu have experienced a decline in the proportion of working-age population, while Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Rajasthan, and Uttar Pradesh have seen an increase. This demographic shift has significant economic …

India, China risk falling into mid-income trap: World Bank report
4 months, 3 weeks ago

India, China risk falling into mid-income trap: World Bank report

Hindustan Times  

New Delhi: More than 100 nations, including India and China, face “serious obstacles” in their transition to high-income developed economies amid increasing chances of getting stuck in the so-called middle-income trap, the World Bank said in its flagship World Development Report 2024 released on Thursday. “Drawing on lessons of the past 50 years, our report finds that as countries grow …

Demography and its discontents
5 months, 1 week ago

Demography and its discontents

Hindustan Times  

India does not have an official population number after 2011. India is believed to have become the world’s most populous country sometime between January and July 2023 / AFP PHOTO / ARUN SANKAR A country’s demographics, of course, do not wait for official data. The World Population Prospects report released by the United Nations — it is the most authoritative …

Silver dividend can increase India’s GDP by 1.5 pc: ADB
7 months, 2 weeks ago

Silver dividend can increase India’s GDP by 1.5 pc: ADB

Deccan Chronicle  

Chennai: India’s GDP can increase by 1.5 per cent if the growth potential generated by untapped work capacity in older people or ‘silver dividend’ is utilized, finds the Asian Development Bank. Currently, India's 97 per cent of older workers are engaged in informal work. ‘Silver dividend’ or the growth potential generated by untapped work capacity in older people can increase …

India’s demographic dividend will eventually dwindle: ADB
7 months, 3 weeks ago

India’s demographic dividend will eventually dwindle: ADB

Live Mint  

Tbilisi, Georgia: Ageing population is turning out to be a challenge for developing Asia and the Pacific and it could reduce the demographic dividend of countries with younger population such as India and Indonesia, over the coming years, the Asian Development Bank said in a report released here on Thursday. The ADB report titled Aging Well in Asia: Asian Development …

Risky premise: On Asian Development Bank forecast, India’s GDP growth
8 months, 1 week ago

Risky premise: On Asian Development Bank forecast, India’s GDP growth

The Hindu  

The Asian Development Bank on Thursday raised its forecast for India’s GDP growth in the current fiscal year ending on March 31, 2025, to 7%, from 6.7% earlier, citing robust public and private investment as well as expectations of a gradual improvement in consumer demand as the rural economy recovers. The ADB’s latest growth forecast for India’s GDP is, however, …

India's GDP to grow 6.1% in 2024: Moody's Analytics
8 months, 1 week ago

India's GDP to grow 6.1% in 2024: Moody's Analytics

The Hindu  

Moody's Analytics on April 12 projected India's economy to expand 6.1% in 2024, lower than 7.7% growth clocked in 2023. We expect India’s GDP to grow 6.1% in 2024 after 7.7% last year," Moody's Analytics said. Moody's Analytics said looking at the GDP relative to its trajectory prior to the pandemic shows that India and Southeast Asia have seen some …

World Bank projects Indian economy to grow at 7.5% in 2024
8 months, 2 weeks ago

World Bank projects Indian economy to grow at 7.5% in 2024

Hindustan Times  

The Indian economy is projected to grow at 7.5 per cent in 2024, the World Bank has said, revising its earlier projections for the same period by 1.2 per cent. Overall, growth in South Asia is expected to be strong at 6.0 per cent in 2024, driven mainly by robust growth in India. Overall, growth in South Asia is expected …

South Asia is expected to grow by nearly 6% this year, making it the world’s fastest-growing region
1 year, 2 months ago

South Asia is expected to grow by nearly 6% this year, making it the world’s fastest-growing region

Associated Press  

NEW DELHI — South Asia is expected to grow by 5.8% this year, making it the fastest-growing region in the world even as the pace remains below pre-pandemic levels, the World Bank said on Tuesday. The latest South Asia Development Update from the World Bank projected growth in the region to slow slightly to 5.6% in 2024 and 2025, as …

S&P retains India’s growth projection at 6% for FY24
1 year, 5 months ago

S&P retains India’s growth projection at 6% for FY24

The Hindu  

S&P Global Ratings on Monday, June 26, 2023, retained India's GDP growth forecast at 6 per cent saying it will be the fastest growing economy among Asia Pacific nations. "We see the fastest growth at about 6 per cent in India, Vietnam, and the Philippines, S&P Global Ratings said in its quarterly economic update for Asia-Pacific. S&P said retail inflation …

Asia-Pacific to grow 4.6% in 2023; India, China to contribute half of global growth: IMF
1 year, 7 months ago

Asia-Pacific to grow 4.6% in 2023; India, China to contribute half of global growth: IMF

The Hindu  

Growth in the dynamic Asia-Pacific region is projected to increase to 4.6% this year from the 3.8% recorded in 2022, according to the International Monetary Fund which stated that the growth will be largely led by India and China. In its “Regional Economic Outlook - Asia and Pacific” report released on May 2, the Washington-based fund said the region would …

Number theory: Can India’s demographic dividend help it overtake the Chinese economy?
1 year, 8 months ago

Number theory: Can India’s demographic dividend help it overtake the Chinese economy?

Hindustan Times  

The United Nations believes that India’s population has overtaken China’s or will do so by July 1. By then, India’s population will be an estimated 1.429 billion, 2.96 million more than China’s estimated population on that day. PREMIUM China’s population will peak in 2029 at 1.44 billion before beginning a period of “unstoppable” decline, a government report said. To be …

The growth math: On India’s growth prospects
1 year, 8 months ago

The growth math: On India’s growth prospects

The Hindu  

On Tuesday, two multilateral institutions presented their regional economic outlook for this year, scaling down their projection for India’s growth prospects in 2023-24. The Manila-based Asian Development Bank noted that a rebounding China’s and India’s domestic demand would lift up Asia’s growth prospects. However, it slashed its 2023-24 GDP growth forecast for India from 7.2% to 6.4%, citing tight monetary …

India’s post-pandemic potential growth could be pushed higher
1 year, 8 months ago

India’s post-pandemic potential growth could be pushed higher

Live Mint  

Three years have now passed since the pandemic brought the world to a standstill. The World Bank has this week released a large database with estimates of potential growth over the years for various countries. First, the World Bank estimates Indian potential growth at 7% a year. Second, Indian potential growth is higher than that of most emerging economies it …

South Asia’s human capital is the resilience it needs
1 year, 9 months ago

South Asia’s human capital is the resilience it needs

The Hindu  

The last few years have ushered in a harsh new reality where crises are the norm rather than the exception. To strengthen resilience and protect the well-being of future generations, governments across South Asia need to take urgent policy action and invest in human capital. If the quantity and quality of South Asia’s human capital were to improve, regional GDP …

India’s youth bulge may have already peaked
2 years ago

India’s youth bulge may have already peaked

Live Mint  

The latest round of the Survey of Professional Forecasters on Macroeconomic Indicators published by the Reserve Bank of India expects the Indian economy to grow by 6.9% in 2022-23 and by 6% in 2023-24. Nonetheless, we have a problem on the jobs front, with economic growth not creating enough of them for India’s youth. Industrial policy eyes forex pile for …

World Bank cuts India's growth forecast to 6.5%
2 years, 2 months ago

World Bank cuts India's growth forecast to 6.5%

India Today  

The World Bank trimmed India's growth forecast for this financial year by a full percentage point on Thursday and predicted a 9.5% contraction in crisis-hit Sri Lanka, as rising commodity prices and debt trouble hit economies in South Asia. "Private investment growth is likely to be dampened by heightened uncertainty and higher financing costs," the World Bank said in its …

World Bank pares India FY23 growth projection to 6.5%
2 years, 2 months ago

World Bank pares India FY23 growth projection to 6.5%

The Hindu  

The World Bank has estimated that India will grow 6.5% in the current fiscal year, after having grown at 8.7% in the fiscal year ended March 31. The slowing in India’s growth during the current fiscal year, relative to the previous one, was because most of the COVID recovery happened last year, the report said. Although India growth estimates are …

The great divergence across South Asia
2 years, 4 months ago

The great divergence across South Asia

Hindustan Times  

Borders sometimes appear blurry and meaningless in today’s digitised world. There are four large economies in South Asia: India, which produces an annual output well over a trillion dollars; Pakistan and Bangladesh, each of whose output exceeds $100 billion every year; and Sri Lanka, whose output tends to be a little below $100 billion in a normal year. Unsurprisingly, India …

Reaping the demographic dividend
2 years, 4 months ago

Reaping the demographic dividend

The Hindu  

The UN report, World Population Prospects 2022, forecasts that the world’s population will touch eight billion this year and rise to 9.8 billion in 2050. A long-time critic of China’s population policy and author of Big Country with An Empty Nest, Yi Fuxian, believes that without its one child policy, China’s population, too, would have naturally risen and peaked at …

Asian Development Bank pares India growth hopes to 7.2% for 2022-23
2 years, 5 months ago

Asian Development Bank pares India growth hopes to 7.2% for 2022-23

The Hindu  

The Asian Development Bank has lowered its growth forecast for India to 7.2% for 2022-23 from a 7.5% projection made in April, citing higher than anticipated inflation since April along with monetary policy tightening. In a supplement to its Asian Development Outlook report, the Bank on July 21 also moderated its growth hopes for 2023-24 to 7.8% from 8% and …

ADB Projects India's Economy to Grow by 7.5 pc in FY23; to Pick Up to 8 pc Next Fiscal
2 years, 8 months ago

ADB Projects India's Economy to Grow by 7.5 pc in FY23; to Pick Up to 8 pc Next Fiscal

News 18  

The Asian Development Bank on Wednesday projected a seven per cent collective growth for South Asian economies in 2022 with the subregion’s largest economy India growing by 7.5 per cent in the current fiscal year before picking up to eight per cent the next year. Releasing its flagship Asian Development Outlook 2022, the Manila-based multilateral funding agency said the growth …

India’s GDP can grow to $40 trillion if working-age population gets employment: CII report
2 years, 8 months ago

India’s GDP can grow to $40 trillion if working-age population gets employment: CII report

The Hindu  

India’s Gross Domestic Product can grow from the current $3 trillion to $9 trillion by 2030, and $40 trillion by 2047, if the country’s working-age population — which is expected to increase by over 100 million people between 2020-30, is productively employed, according to a report by the Confederation of Indian Industry. ‘Golden period’ “The golden period of 30 years …

It's India's Time, Likely to Become Third-Largest Economy by 2030-32: Mukesh Ambani
2 years, 10 months ago

It's India's Time, Likely to Become Third-Largest Economy by 2030-32: Mukesh Ambani

News 18  

India is likely to become the third-largest economy in the world by 2030-32, Reliance Industries chairman and managing director Mukesh Ambani said on Wednesday. The centre of gravity of the global economy has clearly shifted to Asia.” In 2020, Asia’s GDP overtook the GDP of the rest of the world combined. Asia is leading the march towards a more inclusive …

Batting for ‘One South Asia’ makes more sense
3 years, 1 month ago

Batting for ‘One South Asia’ makes more sense

The Hindu  

Over the course of four days, at the G20 in Rome and COP26 in Glasgow, Scotland, Prime Minister Narendra Modi spoke at nearly a dozen events, expanding on India’s plans to counter climate change. Missing however, was any reference to India’s own region, the subcontinent, South Asia, without which India’s multiple forays on fighting climate change could well prove fruitless. …

India Projected to Grow at 10.1% in 2022 but Outlook for 2021 Highly Fragile: UN
3 years, 7 months ago

India Projected to Grow at 10.1% in 2022 but Outlook for 2021 Highly Fragile: UN

News 18  

India is forecast to grow at 10.1 per cent in 2022, becoming the fastest growing major economy in the world, the United Nations said on Tuesday, but cautioned that the growth outlook of 2021 was “highly fragile” as the country was the “new hotbed of the pandemic.” The United Nations, in its mid-year update of the World Economic Situation and …

India's GDP to Grow at 11% This Fiscal, Surge in Covid Cases May Put Economic Recovery at Risk: ADB
3 years, 7 months ago

India's GDP to Grow at 11% This Fiscal, Surge in Covid Cases May Put Economic Recovery at Risk: ADB

News 18  

The Indian economy is projected to grow at 11 per cent in the current financial year amid the “strong” vaccine drive, said ADB on Wednesday, while cautioning that the recent surge in Covid cases may put the country’s economic recovery at “risk”. “India’s economy is expected to grow 11 per cent in fiscal year 2021, which ends on March 31, …

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