Trace the relationship between human capital and economic 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 the economic growth and the 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 enhances their productivity and but also leads 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.
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.
Education is considered to be an important input for the development of a nation. How?
What are the main problems of human capital formation in India?
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.
How government organisations facilitate the functioning of schools and hospitals in India?
Explain how investment in education stimulates economic growth.
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?
Distinguish between ‘Green Revolution’ and ‘Golden Revolution’.
Critically appraise some of the shortfalls of the industrial policy pursued by the British colonial administration.
Why is agricultural diversification essential for sustainable livelihoods?
Why were reforms introduced in India?
What is meant by environment?
Give a quantitative appraisal of India’s demographic profile during the colonial period.
Who is a worker?
How is RBI controlling the commercial banks?
Why calorie-based norm is not adequate to identify the poor?
What do you understand by the drain of Indian wealth during the colonial period?