The consequences of declining fertility are many

Context:

The global population is expected to touch 8.5 billion by 2030, but we are also experiencing a consistent decline in the average global fertility over the past 70 years. There are many economic implications of this trend, affecting a nation.

What data indicate about the issue?

World Population Prospects 2022: The average number of children per woman in the reproductive age group has declined by 50%. Sub-Saharan African countries are expected to contribute more than half the population growth after 2050 and grow through 2100.
Below replacement level fertility rate: Most advanced economies have their fertility rate below the replacement rate of 2.1, with South Korea reporting the lowest at 1.05 children per woman.
India’s Position: For the first time India has reported a below-replacement level fertility rate (2.0) in 2021. Only five States have a fertility rate above the replacement rate: Bihar (3), Meghalaya (2.9), Uttar Pradesh (2.4), Jharkhand (2.3), and Manipur (2.2).

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