China Struggles with Population Crisis, Takes Innovative Step to Boost Birth Rate

China has taken a groundbreaking step to increase its birth rate. The government has announced an annual cash subsidy of 3,600 yuan (approximately 500 US dollars or 40,000 Indian rupees) for every child under three years of age. This is the first time in China’s history that such a nationwide subsidy has been introduced, expected to provide financial support for child-rearing to nearly 20 million families.