This “demographic dividend”, which has helped us in the past, would definitely help us in the future as well. However, in this age of technology and innovation, we need highly skilled human capital to give us an edge over other nations. For this, India needs to considerably step up its public spending on education and health.
The quality of education also needs to undergo a significant change towards promoting innovation and entrepreneurship. More funds need to be invested for setting up institutions in the areas of Research and Development with special emphasis on improving productivity and efficiency in labour intensive sectors like agriculture, medium and small industries, etc.