Population Growth is the increase in the number of people on Earth. The actual annual increase in the human population is about 83 million, or 1.1%. Population growth is an important factor in overall economic growth and, in some cases, may even contribute to higher per capita output growth. “Population Growth” is one of the important concepts in the UPSC/IAS 2023 Economy syllabus which is discussed in this article in detail.

Factors Influencing Population Growth

What is Population Growth?

• Population growth is the increment in the size of a population or a dispersed group.
• The availability and dependability of energy, food, water, and medical care increased with invention and industrialisation.
• As a result, the human population has rapidly expanded and is still growing, having a significant impact on the planet's ecosystems and climate.
• Rapid population growth in low-income countries is likely to be detrimental in the short and medium term because it results in a large number of dependent children.
• Population is a labour force resource. The labour force will grow in proportion to the size of the population.
• Labour alone is incapable of producing anything. A labour force is a productive asset for a country if other resources required for production are also available in sufficient quantity.
• If other resources are in short supply, a large labour force may become an impediment to faster economic growth.

Population Growth as Economic Factor in Economic Growth

• The increase in labor supply is a result of population growth, which creates a larger market for goods and services. As a result, more labour produces more output, which a larger market absorbs.
• Output, income, and employment continue to rise as a result of this process, and economic growth improves.
• However, population growth should be expected to be normal. A galloping rise will stifle the economic progress.
• Only in a sparsely populated country is population growth desirable. It is, however, unjustified in a densely populated country like India.

Measures Taken to Ensure Economic Growth

• An increasing population means a greater number of working people who can participate actively in the process of economic growth and development. Population growth leads to an increase in total output.
• A growing population means a larger market for most goods and services, and we all know that the size of the market limits the division of labor.
• Higher population growth rates would clearly lead to higher economic growth rates if population growth and per capita GDP growth were completely independent.
• On the other hand, if population growth affects per capita output growth, then the higher population growth rates will contribute to either higher or lower overall economic growth, depending on the nature of its effects on per capita GDP.
• Although the world's population is larger than ever, a large proportion of humanity's standard of living is also much higher than at any time in recorded human history.
  • Similarly, looking ahead, the potential for economic growth appears to be far greater than the potential for population growth.
  • For example, new strains of wheat, rice, and other foods, for example, have been discovered that have the potential to increase yields by two to five times in a short period of time.
  • In comparison, the world population would only double in about 35 years.
  • Of course, utilizing this potential would necessitate significant social changes, but the potential exists and is enormous.

Recent News Related to Population

• Awareness On Population Control: Recently, a private members' bill to restrict India's population was introduced in the Lok Sabha by two Bharatiya Janata Party lawmakers, Ravi Kishan and Nishikant Dubey.
• The Bill makes the case that population growth is the main factor slowing India's rate of progress and that population control is urgently required.

*To know more about the topic, click this link India Must Build Awareness On Population Control

• India to Cross China’s Population in the Coming Year: Manish Sabharwal and Ashish Dhawan, co-founders of Ashoka University discussed the strategy going forward as India’s population is on track to exceed China’s in the next year via an article published in Indian Express.
• They argue that for long-term gains, human capital, and formal jobs should be focussed on rather than fiscal or monetary policy exercises.

*To know more about the topic, click this link With India Crossing China’s Population Next Year, How We Can Create Mass Prosperity

• Depopulation: China’s population has begun to decline, while India’s population is expected to grow for another 40 years.
• According to current United Nations estimates, India’s population will begin to decline only in 2063, by which time it will be just shy of 1.7 billion.
• The world’s population is expected to grow until 2086.

*To know more about the topic, click this link It’s Time To Discuss Depopulation

Conclusion

There exists a conflicting role between population growth and economic development. It has the potential to be both a stimulant and an impediment to growth and development. Such opposing roles imply that the relationship between population and economic development is intricate, complex, and fascinating.