HUMAN CAPITAL FORMATION IN INDIA by ajay
HUMAN CAPITAL FORMATION IN INDIA
SOURCES OF HUMAN CAPITAL : Investment in education health information job training, migration return of such expenditure in the form of enhanced labour productivity is more than the cost of it.
Physical and Human Capital Physical capital is tangible and can be easily sold in the market like any other commodity.Human capital is intangible; it is endogenously built in the body and mind of its owner. Human capital is not sold in the market; only the services of the human capital are sold and, hence, there arises the necessity of the owner of the human capital to be present in the place of production. The physical capital is separable from its owner, whereas, human capital is inseparable from its owner.. Human capital is not perfectly mobile between countries as movement is restricted by nationality and culture. Therefore, physical capital formation can be built even through imports, whereas human capital formation is to be done through conscious policy formulations in consonance with the nature of the society and economy and expenditure by the state and the individuals' nature of depreciation differs between the two. Continuous use of machine leads to depreciation and change of technology makes a machine obsolete. In the case of human capital, depreciation takes place with ageing but can be reduced, to a large extent, through continuous investment in education, health, etc. This investment also facilitates the human capital to cope with change in technology which is not the case with physical capital.Nature of benefits flowing from human capital are different from that of physical capital. Human capital benefits not only the owner but also the society in general. This is called external benefit. An educated person can effectively take part in a democratic process and contribute to the socio-economic progress of a nation. A healthy person, by maintaining personal hygiene and sanitation, stops the spread of contagious diseases and epidemics. Human capital creates both private and social benefits, whereas physical capital creates only private benefit. That is, benefits from a capital good flow to those who pay the price for the product and services produced by it
Human Capital and Economic Growth: Economic growth means the increase in real national income of a country.increase in human capital causes economic growth is rather nebulous The Seventh Five Year Plan says, “Human resources development (read human capital)f big data, machine learning, and artificial intelligence, many unskilled jobs worldwide may be taken over by machines mathematics, computer science, and data science,
India as a Knowledge Economy : software industryusing information technology (IT
HUMAN CAPITAL AND HUMAN DEVELOPMENTHuman capital considers education and health as a means to increase labour productivity. Human development is based on the idea that education and health are integral to human well-being because only when people have the ability to read and write and the ability to lead a long and healthy life, they will be able to make other choices which they value. Human capital treats human beings as a means to an end; the end being the increase in productivity. In this view, any investment in education and health is unproductive if it does not enhance output of goods and services. In the human development perspective
S TATE OF HUMAN CAPITAL FORMATION IN INDIA - human capital formation is the outcome of investments in education, health, on-the-job training, migration and information.Do you know who takes care of education and health in India? edu me (NCERT), University Grants Commission (UGC) and All India Council of Technical Education (AICTE)
Identify the objectives and functions of NCERT, UGC, AICTE and ICMR. table of the objectives and functions of NCERT, UGC, AICTE, and ICMR:
NCERT
The National Council of Educational Research and Training (NCERT) is an autonomous organization under the Ministry of Education, Government of India. It is responsible for developing and promoting quality education in India.
NCERT's functions include:
- Developing and publishing textbooks and other educational materials
- Conducting research on education
- Providing training to teachers
- Developing and implementing educational programs
UGC
The University Grants Commission (UGC) is a statutory body established by the Government of India in 1956 under the University Grants Commission Act, 1956. It is responsible for promoting and coordinating university education in India.
UGC's functions include:
- Granting recognition to universities
- Providing funding to universities
- Coordinating the activities of universities
- Developing and implementing quality standards for university education
AICTE
The All India Council for Technical Education (AICTE) is a statutory body established by the Government of India in 1945 under the All India Council for Technical Education Act, 1987. It is responsible for promoting and coordinating technical education in India.
AICTE's functions include:
- Approving new technical institutions
- Setting standards for technical education
- Providing funding to technical institutions
- Developing and implementing quality standards for technical education
ICMR
The Indian Council of Medical Research (ICMR) is the apex body in India for the formulation, coordination and promotion of biomedical research. It is funded by the Government of India through the Department of Health Research, Ministry of Health and Family Welfare.
ICMR's functions include:
- Conducting research on biomedical sciences
- Providing funding to biomedical research institutions
- Coordinating the activities of biomedical research institutions
- Developing and implementing quality standards for biomedical research
These organizations play a vital role in developing and promoting education and research in India. They work to ensure that all Indians have the opportunity to reach their full potential.
EDUCATION SECTOR IN INDIA : Education Commission (1964–66) had recommended that at least 6 per cent of GDP be spent on educatione Tapas Majumdar Committee, appointed by the Government of India in 1999, estimated an expenditure of around Rs 1.37 lakh crore over 10 years (1998-99 to 2006-07)
- 2 per cent ‘education cess’ on all Union taxes
- government sanctions a large outlay for the promotion of higher education
- School dropouts are giving way to child labour’. Discuss how this is a loss to human capital.
What can be done to help dropouts?
There are a number of things that can be done to help dropouts, including:
- Providing financial assistance to families so that they can afford to send their children to school
- Improving the quality of education in schools
- Making schools more accessible to children from disadvantaged groups
- Providing vocational training to dropouts so that they can get good jobs
- Raising awareness of the importance of education
It is important to remember that dropouts are not failures. They are simply children who have faced challenges in their lives. By providing them with the support they need, we can help them to reach their full potential.
What can be done to help dropouts?
There are a number of things that can be done to help dropouts, including:
- Providing financial assistance to families so that they can afford to send their children to school
- Improving the quality of education in schools
- Making schools more accessible to children from disadvantaged groups
- Providing vocational training to dropouts so that they can get good jobs
- Raising awareness of the importance of education
It is important to remember that dropouts are not failures. They are simply children who have faced challenges in their lives. By providing them with the support they need, we can help them to reach their full potential.
School dropouts are giving way to child labour’. Discuss how this is a loss
to human capital.
- Lower productivity: Children who drop out of school are less likely to have the skills and knowledge that they need to be successful in the workforce. This can lead to lower productivity and lower wages.
- Higher unemployment: Children who drop out of school are more likely to be unemployed. This is because they are less likely to have the skills and knowledge that employers are looking for.
- Higher crime rates: Children who drop out of school are more likely to be involved in crime. This is because they are more likely to be unemployed and to have fewer opportunities.
- Poor health: Children who drop out of school are more likely to have poor health. This is because they are more likely to be exposed to hazardous working conditions and to have less access to healthcare.
- Intergenerational poverty: Children who drop out of school are more likely to have children who drop out of school. This can create a cycle of poverty and disadvantage.
In addition to these individual costs, child labor also has a number of negative social and economic consequences. For example, child labor can lead to lower economic growth, higher poverty rates, and higher crime rates.
It is important to note that child labor is not only a loss to human capital, it is also a violation of children's rights. Children have the right to education, and they should not be forced to work.
What can be done to prevent school dropouts and child labor?
There are a number of things that can be done to prevent school dropouts and child labor, including:
- Providing free and compulsory education for all children
- Improving the quality of education in schools
- Making schools more accessible to children from disadvantaged groups
- Providing financial assistance to families so that they can afford to send their children to school
- Enacting and enforcing laws against child labor
By taking these steps, we can help to ensure that all children have the opportunity to reach their full potential.
Educational Achievements in India ; adult literacy level, primary education completion rate and youth literacy rate.
Annual Report of the Ministry of Education
The Ministry of Education is responsible for developing and implementing policies and programs related to education in India. The annual report provides an overview of the ministry's activities and achievements during the year.
Some of the key highlights of the 2022-23 annual report include:
- The gross enrollment ratio (GER) for elementary education reached 99.18%, and the GER for secondary education reached 89.21%.
- The number of schools with access to drinking water and sanitation facilities increased to 97.95% and 97.82%, respectively.
- The number of teachers with professional training increased to 92.10%.
- The number of higher education institutions increased to 1,100+.
- The government allocated Rs. 1.12 lakh crore for education in the 2023-24 budget.
Annual Report of the Ministry of Health and Family Welfare
The Ministry of Health and Family Welfare is responsible for developing and implementing policies and programs related to health and family welfare in India. The annual report provides an overview of the ministry's activities and achievements during the year.
Some of the key highlights of the 2022-23 annual report include:
- The life expectancy at birth increased to 70.1 years.
- The infant mortality rate (IMR) decreased to 30 deaths per 1,000 live births.
- The maternal mortality ratio (MMR) decreased to 113 deaths per 100,000 live births.
- The full immunization coverage increased to 92%.
- The government allocated Rs. 86,600 crore for health and family welfare in the 2023-24 budget.
Chapter on Social Sector in the Economic Survey
The chapter on social sector in the Economic Survey reviews the performance of the social sector in India, including education, health, and nutrition.
Some of the key highlights of the chapter include:
- The literacy rate in India increased from 74.04% in 2018 to 77.7% in 2022.
- The net enrollment ratio (NER) for elementary education increased from 96.2% in 2018 to 99.6% in 2022.
- The NER for secondary education increased from 86.6% in 2018 to 94.6% in 2022.
- The percentage of children under the age of five who are stunted decreased from 38.4% in 2015-16 to 35.5% in 2019-20.
- The percentage of women who are anemic decreased from 53.1% in 2015-16 to 52.1% in 2019-20.
Conclusion
The annual reports of the Union Ministries of Education and Health and Family Welfare, as well as the chapter on social sector in the Economic Survey, show that India has made significant progress in improving its social sector in recent years. However, there are still some challenges that need to be addressed, such as high dropout rates, gender inequality, and malnutrition. The government is committed to improving the social sector, and it has allocated significant resources to education, health, and nutrition in the 2023-24 budget.
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