APY largely caters to social security of India’s unorganized sector, offering them flexibility in terms of contributions. This means that one does not need to put aside a specific amount for their APY account every month.
An ageing population brings multiple challenges for policymakers and the UN has red-flagged a demographic fact for the most populous nation by saying that the number of senior citizens ie, people of 60+ years is rising rapidly in India will reach 15% by 2036 and 20% by 2050.
The crude price rise has been fuelled substantially by the voluntary production cuts by Russia – the country that gave India cheap oil in the past year and a half -- and Saudi Arabia – the world’s largest crude producer
A large population merely provides the hands needed for jobs but in order to fully exploit the potential, India would need quality education to skill those hands and back them up with adequate modern infrastructure to extract the maximum economic benefit, a report by Moody’s Investors Service has stated.