With over 1.4 bn people, India to be more populous than China by 2024: UN

Agencies

June 22, 2017

United Nations, Jun 22: India, which currently ranks as the second most populous country with 1.3 billion inhabitants, will surpass China's 1.4 billion citizens by 2024, the UN said in a report.

IndiaP

The world's total population is expected to hit 9.8 billion by 2050 despite universal lower fertility rates,the report added.

The world's population is now at least 7.6 billion, up from 7.4 billion last year, spurred by the relatively high levels of fertility in developing countries -- despite an overall drop in the number of children people have around the globe, the report World Population Prospects: The 2017 Revision revealed on Wednesday.

The concentration of global population growth is in the poorest countries, presenting a challenge as the world seeks to implement the 2030 Sustainable Development Agenda, which is aimed to end poverty and preserve the planet, according to the report.

"With roughly 83 million people being added to the world's population every year, the upward trend in population size is expected to continue, even assuming that fertility levels will continue to decline," said the UN Department of Economic and Social Affairs.

At this rate, the world population is expected to reach 8.6 billion in 2030, 9.8 billion in 2050 and surpass 11.2 billion in 2100, reports Xinhua news agency.

The growth is expected to come, in part, from the 47 least developed countries, where the fertility rate is around 4.3 births per woman, and whose population is expected to reach 1.9 billion people in 2050 from the current estimate of 1 billion.

In addition, the birth rates in African countries are likely to "at least double" by 2050, said the report.

That trend comes despite lower fertility rates in nearly all regions of the world, including in Africa, where rates fell from 5.1 births per woman up to 2005 to 4.7 births in the five years following.

In contrast, the birth rates in Europe are up to 1.6 births per woman, up from 1.4 births in 2000-2005.

The lower fertility rates are resulting in an ageing population, with the number of people aged 60 or over expected to more than double by 2050 and triple by 2100, from the current 962 million to 3.1 billion.

Africa, which has the youngest age distribution of any region, is projected to experience a rapid ageing of its population, the report noted.

By 2050, the third most populous country will be Nigeria, which currently ranks seventh, and which is poised to replace the US.

Comments

Major contribution will be from Peace Community..sadly

Add new comment

Coastaldigest.com reserves the right to delete or block any comments.
Coastaldigset.com is not responsible for its readers’ comments.
Comments that are abusive, incendiary or irrelevant are strictly prohibited.
Please use a genuine email ID and provide your name to avoid reject.

Indian economy experienced abrupt slowdown in 2019, says IMF MD

News Network

February 1,2020

Washington, Feb 1: The Indian economy experienced some abrupt slowdown in 2019 due to turbulence in non-banking financial institutions and major reform measures such as GST and demonetisation, but it is not in a recession, IMF Managing Director Kristalina Georgieva has said.

"The Indian economy indeed has experienced an abrupt slowdown in 2019. We had to revise our growth projections, downwards to four percent for last year. We are expecting 5.8 per cent (growth rate) in 2020 and then an upward trajectory to 6.5 percent in 2021," Georgieva told a group of foreign journalists here on Friday.

"It appears that the main reason for this slowdown was the non-banking financial institutions experiencing a turbulence," she said on the eve of Union Finance Minister Nirmala Sitharaman presenting the annual budget in Parliament on Saturday.

She said India had undertaken some important reforms that over the longer term would be beneficial for the country, but they do have some short-term impact.

"For example, coming with the unified tax system, and the demonetisation that took place. These are steps that over time are beneficial, but of course they might, might be somewhat disruptive over short term," Georgieva said in response to a question.

The International Monetary Fund (IMF) Managing Director said that there is not a lot of fiscal space in India. “But we also recognise that the policies of the government on that side, on the fiscal side have been prudent. We will see how the reading of the budget, the submission of the budget goes, tomorrow,” she said.

In the medium-term, she said, the IMF remains optimistic about India. “This is why we see that upswing potential for the growth in the country,” she said.

Georgieva said that the current economic slowdown cannot be described as a recession. "No.... You're far from that. But it is a significant slowdown, not the recession," she said.

The IMF managing Director noted that the consumption in India also slowed down and that contributed to the overall slowdown in the economy. The IMF would be keen to see what India does to get relatively sound macroeconomic fundamentals to pay off in terms of better growth trajectory, she said ahead of the budget.

One thing that is important for India is that budgetary revenue have been below target. "The country knows that. The finance minister knows it. They need to increase budgetary revenue collection so they can improve their fiscal position. I said it's tight on the spending side, but I also want to stress that there is room to improve collection on the revenue side," she said.

Comments