Economic Survey warns of aging population, says retirement age should rise

It also said that policymakers need to prepare for an increasing number of elderly people, estimating there will be 239.4 million Indians over the age of 60 in 2041 against 104.2 million in 2011

The government on Thursday warned in a study that its population is going to start to age and it needs to be prepared to merge schools and raise the retirement age

While India should be set to benefit from the so-called “demographic dividend” over the next decade as its working population is set to increase by about 9.7 million a year between 2021-31, that will quickly fade as the nation’s fertility rate plunges below replacement level.

The conclusions in the study, “India’s Demography at 2040: Planning Public Good Provision for the 21st Century,” will have major implications for many companies,