He made the remarks in his annual State of the Nation address, saying Russia's population has declined from a historical high of 148.4 million people in 1992 to about 143 million people at the end of 2005, the Prime-Tass news agency reported.
He proposed increasing the existing monthly subsidy from $26 to $55 paid to a family for the first child under 18 months old, and to $110 paid for the second child. Putin also suggested making a one-time payment of at least $9,000 to a woman giving birth to her second child, the report said.
Russians' average monthly income per capita amounted to $300 in February, Federal State Statistics Service figures show.
Celebrity Families of 2014 [PHOTOS]