Announcement of Rs 5 lakh per month for every child born
In South Korea, the government is ready to spend hundreds of millions of dollars to solve the problem of low birth rate.
According to the Korea Times report, South Korea's Ministry of Finance plans to encourage parents to increase the birth rate by offering them a large compensation.
In this regard, local media say that South Korea is currently the country with the lowest birth rate in the world and the said project has been started to meet the shortage.
In a statement issued by the Ministry of Finance yesterday, it is said that the monthly allowance given per child birth is being increased from 1.5 million won to 2.5 million won.
In American currency, this amount is equal to 1,809 dollars, while in Pakistani currency, this amount is 5 lakh 1 thousand 3 hundred rupees.
The statement said that if parents temporarily leave their jobs or take leave to take care of a child during the birth of a child, this amount will be given to them as compensation.
In addition, the government will increase the duration of parental leave for child care from the current 12 months to 18 months.
The plan includes measures to facilitate housing loans, increase the number of children and affordable primary education.
These are designed to stem the decline in the birth rate, with South Korea's birth rate reaching a record high of 0.72 last year, according to foreign news agencies.
President Yoon-Suk-yol called a meeting on Wednesday to discuss the issue, which threatens to accelerate the country's aging process and undermine productivity and fiscal health.
Addressing the meeting, he said that the country is facing a "national emergency" due to the shrinking population of South Korea.
A number of factors have been attributed to the reluctance of young people to have children. This includes high housing costs and a competitive education landscape.
It should be noted that the South Korean government has spent billions of dollars on efforts to increase the birth rate, but the desired results have not been achieved and so far there has been little success.