SBI’s ERD Report: India’s Population Growth on a Downward Trajectory

Current Context: The State Bank of India’s Economic Research Department (ERD) recently released a report titled “Precursor to Census 2024: The Fine Prints of a Rapidly Changing Nation.”

• According to the report, India’s population growth rate is on a downward trajectory.
• The average annual exponential growth rate has decreased from 2.20% in 1971 to 1% in 2024.
• The report estimates that India’s population will be in the range of 138-142 crore in 2024.
• Despite the increase in absolute numbers, the growth rate is slowing down.
• This trend is particularly noticeable in southern states like Tamil Nadu, Andhra Pradesh, and Telangana, while northern states like Uttar Pradesh and Bihar continue to drive significant population growth.
• Additionally, the median age in India is expected to rise to 28-29 years, making it one of the youngest nations globally.
• The proportion of elderly persons is also increasing, projected to reach 10.7% in 2024.

Question:

1 According to the SBI ERD report, the average annual exponential growth rate of India's population has decreased from 2.20% in 1971 to what percentage in 2024?

• A) 0.5%
• B) 1.0%
• C) 1.5%
• D) 2.0%

Answer: B) According to the SBI ERD report, the average annual exponential growth rate of India's population from 2.20% in 1971 to 1% in 2024.