So sad to see this happen. Paul Ehrlich made a similar prognostication that never came to pass. There are many places in the world that did a similar thing and had to work to reverse it (S. Korea, Russia), by actually paying families to have children, and China recently reversed its draconian one child policy because they have seen first hand the problems it creates.

Hopefully India doesn't run into the same problem down the road, because one a population starts to decline, history has shown that it is not reversible.