Age Demographics is the statistical study of populations based on age.

Generally
the population is categorized into three broad age groups: the young (usually
under 15), adults (usually 16 to 59 inclusive) and the aged (60 and over).

Age structure reflects the demographic and socio-economic history of a

population over a period of about a century. Certainly it is the result of various
and interrelated factors such as fertility, mortality and migration, which have
operated during the lifetime of the oldest inhabitants.

The age structure of a population affects a nation’s key socio-economic issues.

Countries with young population (high percentage under age 15) need to invest
more in schools, while countries with older population (high percentage ages 65
and over) need to invest more in the health sector. Pensions and retirement
savings are affected by what individuals as consumers, savers and workers do in
the pre-retirement stages of life. When taken in aggregate, these can have a big
impact on government budgets. Across some 0ECD countries, pensions and health
expenditures now account for at least 60% of all public social spending. Countries
with older populations like Germany, France, Italy and Japan have much higher
spending on pensions and health compared to those such as Australia and
Canada. Fiscal, labor and monetary policy all need to respond to these changes.
The age structure can also be used to help predict potential political issues.

Demography is an important factor for development. Youth should be one of the

main economic assets for a country or a region. A declining proportion of children
and a simultaneous increase in the share of the youth and working-age adult
population lowers dependency ratios and opens a window of opportunity for
economic growth as age structures mature and a larger share of the population
enters the workforce. This “demographic dividend” can be reaped through sound
policies, which ensure that when large waves of young people enter the labor
market, they are adequately educated and jobs exist for them. Education, training
and a well-functioning labor market are prerequisites to reap the benefits of
progress through the demographic transition.

However, weak governance and poor socioeconomic development can turn

demographic opportunities into demographic challenges. Depending on a
country’s politics and economy, youth may become an economic asset or a
potential factor of instability.

0-14 years: 27.34% (male 186,087,665/female 164,398,204)

15-24 years: 17.9% (male 121,879,786/female 107,583,437)
Age structure in 25-54 years: 41.08% (male 271,744,709/female 254,834,569)
India 55-64 years: 7.45% (male 47,846,122/female 47,632,532)
65 years and over: 6.24% (male 37,837,801/female 42,091,086)
(2017 est.)

As we can see the youth population is highest in India which has led to
unemployment issues. The ILO released a report "World Employment and Social
Outlook Trends - 2018". As per the report, it is projected that the number of
unemployed persons in India is expected to rise from 18.3 million in 2017 to 18.6
million in 2018 and 18.9 million by 2019.

This highlights the importance of relevant educational system in India.

Our colleges and universities are like factories that produce graduates in quick
succession just as a machine issue forth pins and needles one after these literacy
factories, who wander into the wide world in their vein efforts to find
employment. In life there is no demand for these university products. The result is
that the more our education expands, the more the ranks of the educated
unemployed swell. In the last few years, there is no doubt; our education has
improved greatly but only quantitatively, not qualitatively.

At the higher level the students do not develop the spirit of original thinking and
inquiry. The Indian educational system is such that it does not give scope for
original thinking and writing. Even at the college level our educational system is
not research-oriented. Of course, there are a few students who excel in research.
The students memorize certain portions from their textbooks important from the
viewpoint of the examination. They write the examination and pass. Rather, our
testing and marking systems need to be built to recognize original contributions,
in form of creativity, problem solving, valuable original research and innovation.