The concept of 'demographic dividend' refers to the economic growth potential when:

• A Total fertility rate falls below the replacement level of 2.1
• B Crude birth rate equals crude death rate, indicating population stability
• C Infant mortality rate falls below 30 per 1000 live births
• D The working-age population (15–64 years) is proportionally larger than dependants (children + elderly) ✓

Explanation

The demographic dividend occurs during the transitional phase of demographic transition when high birth rates decline faster than death rates, temporarily creating a 'bulge' of working-age adults relative to dependants (children and elderly). The dependency ratio falls, and if this large working-age cohort is productively employed and saving, it generates accelerated economic growth. India is currently in this window of demographic dividend (estimated to last until 2040–2056), which is why investments in education, health, and employment of youth are prioritised in national policy.

Reference: Park's Textbook of Preventive and Social Medicine, 27th ed.

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