Is single child the best policy ?

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I have one son . We are happy along with our parents . (We are five -our parents , our only son and we two .) I am a mediocre earner and my wife is home maker . I am very serious about education and health care . Both of them are growing in cost day by day and the pace of increase is accelerating year after year . Price level of other common goods is also rapidly rising . Last few months I have failed to save a single penny out of my monthly salary . There is no sign of reversal of the trend of living expenditure . In such a situation I am quite sceptical of the future financial condition .Hence , i have almost decided not to go for the second child . What is the benefit if I cannot afford a good education and health and food for the children . But my son , who is 6 years old now , has started to urge for his baby sister . Moreover , my collegues and friends also sometimes raise the question why I don't go for the 2nd issue . They have to say that single children suffer from some loneliness. What is your opinion and advice ?