India's elderly population to double by 2050, surpassing number of children, warns report
(Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) As per the report, there were 149 million persons aged 60 years and above in 2022 (as of 1 July), comprising around 10.5% of the country’s population. And, by 2050, this population will double to 20.8%, with the absolute number at 347 million.
By the end of the century, the elderly will constitute over 36% of the total population of the country, the report predicted. The report noted that the elderly population in India is expanding at an unprecedented rate and may be expected to surpass the children's population by mid-century. Also read: Urban millennials in India have had much to reveal in five years “Four years before 2050, the population size of the elderly in India will be higher than the population size of children aged 0-14 years.
By that time, the population share of 15–59 years will also see a dip. Undoubtedly, the relatively young India today will turn into a rapidly ageing society in the coming decades," it said. Further, mentioning the condition of the elderly, the report said that more than 40% are in the poorest wealth quintile.
This level of poverty among the elderly may affect their quality of life and healthcare utilization, according to the UNFPA's India Ageing Report 2023. An analysis of their work, pension, and income status indicates that 18.7% elderly did not have any income. This proportion was above the national level in 17 states, ranging from 19.3% in Uttarakhand to 42.4% in Lakshadweep, the report said.
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