Human capital formation in India - Indian economy -

Human capital formation in India – Indian economy

      Human capital formation in India

● Physical capital – all those inputs which are required in the process of production such as plant,raw materials,machinery etc

● Human capital – human capital refers to the stock of skills and expertise of a nation at the point of time

          Human capital formation

Human capital formation is the process of acquiring and increasing the number of persons who have the skill, education and experience for the economic and political development of economy

● Source of human capital formation

1. Expenditure on education

2. Expenditure on health

3. On the job training

4. Study programs for adults

5. Migration

6. Expenditure on information

● Role of human capital formation/ Importance

1. Higher productivity

2. Improve quality of life 

3. Innovative skills

4. Increase participation and equality

5. Raises life expectancy

● Problems facing human capital formation in India 

1. Rising population 

2. Brain drain

3. Deficiency manpower planning 

4. Insufficient on the job training 

5. Lack of academic standards

Education is an essential elements of human development

● education is a process of teaching training and learning (especially in school or colleges).It improves knowledge and develop skills.

● Importance and Objectives of Education

1. Education produces responsible citizens

2. It develops Science and Technology

3.  it helps in change in Environmental Outlook

4. It develop human personality

5.  it helps us to make good society

● Need for government intervention in education  and health

1. Because it needs huge investment

2. Because private sector to invest in health for profit motive

3. People in poor country cannot afford have price for education and health

4. Government doing social with justice

          Education sector in India

1. Elementary education

    • class 1 to 8 ( 6 to 14 years)

    • 97% of children’s received

●need to make policy – Right to education

    • In 1950- 51 is 2.23 lakh 

    • In 2015- 16 is increase 12.70 lakh

2. Secondary and senior secondary education

     • class 9 to 10 and 11 to 12 (14 – 19 years)

● Best example – Navodaya vidyalaya and kendriya vidyalaya 

     • In 1950- 51 , there were 7.4 thousands secondary and Senior secondary schools with 15 lakh students

     • In 2015-16 the no secondary and senior secondary schools increase to 2.52 lakh and the no of students went up to 3.2 crore

3. Higher education

      • Colleges and universities

      • no of students in all universities 346 lakh in 2015-16


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