It may not be as ‘shocking’ as a the current political crises across the country or the drought in Maharashtra and other states, but the significant rise of India’s elderly population does certainly warrant a few alarm bells to be rung. Indians over the age of 60 amount for 8.6 percent of the population as per the 2011 census. The figure was 7.6 crore in 2001 and rose to 10.3 crore in 2011.
This is a massive rise of 35 percent; a record high since 1950. In contrast, the overall population rose by just 17.7 percent. The lower rise of the overall population is a good thing, mainly attributed to urban parents having lesser children than before. But the rise in the elderly can be detrimental, not just for the country and the economy but for the elderly themselves.
Population ageing is a global phenomenon, although it has started to become a bigger issue in Asian nations (read: developing economies). In Japan and China, there is a massive number of the elderly who are now living in relative poverty in the villages, as their children move to the towns and cities to better employment opportunities. The situation is not that different in India, which now has the world’s largest population between the ages of 10 to 24. The migration to the cities will be even higher post 2020.
But how is this such a serious situation? There are no major government schemes that dole out social welfare, which means that the current population of people over 60 do not have much of an income; India covers just over 25 percent of its elderly. The Indira Gandhi Old Age Pension gives out Rs 200 per month to the poor elderly. Goa has the Dayanand Social Security Scheme which has a larger amount give out, but that is not enough.
There is a need to create an environment where there are more jobs and increased chances of saving money, but for that to happen the government has to work on improving interest rates and other methods on helping their citizens save for the future. The age dependency ratio going up is another factor that puts the country’s future in jeopardy. Age dependency ratio is when people above 64 depend on the working population for care and income. That number was 10.9 percent in 2001. A decade later it stands at 14.2 percent. With more people depending on their children, there will be now even less to save for those who will hit their 60s post 2040. Interestingly, a 2014 State of Elderly report claims that by 2050, more than 20 percent of the population will fall under the elderly bracket.
The rising incidents of depression is another cause for concern. This rises out of loneliness, which can be handled, but there is also a large percentage of the elderly who are depressed due to abuse by their children and relatives. This needs to be curbed. But who is going to do that? The government has to allot adequate resources to tackle this problem. Old age homes have a poor record and reputation, despite the fact that the elderly there are atleast not suffering from loneliness and can seek companionship with their peers.
This economy of this country has been getting better over the decades and will liberalization in many sectors will only boost that. But let us not forget that all this has been built on the backs of those who are 60 and who will turn 60 in the next decade. We cannot leave them to curl up and die alone and uncared for.
