Economic Survey Proposes Increase In Retirement Age
The Economic Survey that was tabled by Union Minister for Finance and Corporate Affairs Nirmala Sitharaman in the Parliament today, proposed to increase the retirement age of the work force.
Talking about the implication for working age population, the Economic Survey stated, "Its size plays a key role in determining the size of labour force and direction of inter-state migration." It further stated, "Depending upon the trajectory of labour force participation during 2021-41, additional jobs will need to be created to keep pace with the projected annual increase in working age population."
Demographic trends suggest need to prepare for ageing of the population; this necessitates more healthcare investment, increasing retirement age in a phased manner
Details ➡️https://t.co/LY4L870rYu#Economy5Trillion pic.twitter.com/7spEaXP5eb
— PIB India (@PIB_India) July 4, 2019
The States with rising working age population could meet the labour deficit in many ageing States. The current migration trends broadly follow this pattern.
The change in demographic break-up has several policy implications such as those on elementary schools, health care facilities and deciding the retirement age.
With India’s health life expectancy (which is currently the age of 60) continuously increasing over the years for both men and women, and given that it is likely to continue rising, increasing the retirement age for men and women could be considered in line with the experience of other countries.
National Unity Day: A tribute to Sardar Patel | Master Stroke
What all changed after J&K officially bifurcated into 2 UTs? | Master Stroke
Israeli spyware Pegasus snooped on Indian Journalists through Whatsapp | Master Stroke
Maharashtra: Shiv Sena's Sanjay Raut Meets Sharad Pawar
Drill displays IED diffused with the help of a robot by NSG
Article 370 only gave separatism and terrorism to J&K: PM Modi in Kevadiya
Let us work towards making India $5 trillion economy: Modi To Trainee Civil Servant | Full Speech
Radio Stations in Jammu, Srinagar and Leh renamed
Jammu and Kashmir to witness 'Acche Din'? | Seedha Sawal
Expert advice on how to survive poor air quality in Delhi-NCR