One of the biggest fallouts from this is that younger people end up living in an economy with less growth, due to the lower numbers of working-age people, while simultaneously having to support bigger groups of retired people. The number of people aged 65 or older is projected to double over the next two decades, increasing from 108 million in 2025 to 254 million by 2050, according to the United Nations (U.N.) Population Division.
By then, older people will make up 15 percent of the population, surpassing the number of children under the age of 15 by 2056. "India's aging population is growing at an unprecedented rate," Poonam Muttreja, the executive director of the Population Foundation of India, told Newsweek. "This shift presents enormous economic and social challenges, particularly because 40 percent of our elderly population falls within the poorest wealth quintile."
