How does investment in human capital contribute to growth?
Human capital and economic growth goes hand in hand. Human capital formation accelerates the economic growth whereas economic growth in turn facilitates human capital formation. The interrelationship between economic growth and human capital formation can be explained with the help of the below mentioned points.
1. Increase in the Productivity of Physical Capital: Physical capital refers to the stock of produced means of production. It consists of machines, production plants, tools and equipments. The skilled workers handle the productive assets in such a manner that these not only enhance their productivity and but also lead to an efficient utilisation of the physical capital. When the productivity increases, the pace of growth is automatically accelerated.
2. Innovation of Skills: An educated person is more productive and skillful. He has the potential to develop new skills and innovate new techniques that can be more efficient and productive. Greater the number of skilled and trained personnel, greater will be probabilities of innovations.
3. High Participation Rate and Equality: Human capital endowed with higher technical skills and innovating power is more productive and efficient. This increases the participation of more people in the process of economic growth and development. Higher the participation rate, higher is the degree of social and economic equality across the country. Thus, we can conclude that human capital and economic growth goes hand in hand. Human capital formation accelerates the economic growth whereas economic growth also facilitates human capital formation.
Discuss the need for promoting women’s education in India.
Trace the relationship between human capital and economic growth.
Discuss the following as a source of human capital formation
(i) Health infrastructure
(ii) Expenditure on migration.
‘There is a downward trend in inequality world-wide with a rise in the average education levels’. Comment.
What are the main problems of human capital formation in India?
Education is considered to be an important input for the development of a nation. How?
How is human development a broader term as compared to human capital?
What factors contribute to human capital formation?
Argue in favour of the need for different forms of government intervention in education and health sectors.
What are the indicators of educational achievement in a country?
What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies?
What do you mean by rural development? Bring out the key issues in rural development.
Define a plan?
Who is a worker?
Explain the term ‘infrastructure’.
What is meant by environment?
Why are regional and economic groupings formed?
Why were reforms introduced in India?
Why calorie-based norm is not adequate to identify the poor?
Name some notable economists who estimated India’s per capita income during the colonial period?
Explain the steps taken by the government in developing rural markets.
Define the liberty indicator. Give some examples of liberty indicators.
Indicate the volume and direction of trade at the time of independence.
What do you mean by transmission and distribution losses? How can they be reduced?
Does modernisation as a planning objective create contradiction in the light of employment generation? Explain.
Describe the path of developmental initiatives taken by Pakistan for its economic development.
Explain how import substitution can protect domestic industry.
Distinguish between ‘Green Revolution’ and ‘Golden Revolution’.
Why and how was the private sector regulated under the IPR 1956?
Critically evaluate the role of the rural banking system in the process of rural development in India.