It has become a challenge to raise children with the rise in inflation, increased prices of products and commodities, and the cost of living.
To fight declining birth rates, the government in many countries is providing financial incentives for parents to have children.
Generally, people will have kids if they believe their jobs are secure, the economy is robust and they have complete support to start a family.
On the other hand, declining population growth may lead to economic downfall.
According to a Japan Times report, the Japanese are slowly losing interest in the concept of relationships and marriage. This has prompted the government to give Rs 6 lakh for every child that is born.
Russia too has adopted a similar policy. In fact, September 12 is considered to be a public holiday, for couples planning to have kids.
Romania is another country where couples are exempted from paying taxes if they have kids. On the contrary, couples who do not give birth to offspring are required to pay an additional tax of 20 per cent.
Belarus provides money for three years after the child is born. A sum of Rs 1.28 lakh is given to the parents of the kid as soon as they are born.
In 2013, the municipality of Lestijarvi in Finland started giving out baby bonus payments to couples. The day a child is born, the parents are given a handsome reward of Rs 7.86 lakh.