human capital
the knowledge, skills and abilities which a person acquires through education, training and/or experience, adding to his/her value to the production process, which play a cruical role in driving economic growth and overall properity
human capital formation
the process of addition made to the stock of skilled and capable people in the country over a given time period.
sources of human capital formation
- investment in education
- expenditure on health
- expenditure regarding on-the-job training
- expenditure on migration
- expenditure incurred for acquiring ‘Information’ relating to the labour market and other markets
expenditure on health is further divded to
- preventive
- curative
- social
role of human capital formation in economic development
- higher productivity and production
- promotes invention, innovation and technologival improvements
relationship between human capital and economic growth
there is a direct relationship between human capital and economic growth
meausrement of goverment on education in India is decisided by two things
- percentage of total goverment expenditure
- as a percentage of gross domestic party
according to education commision what percentage of GDP should be spent on education?
6
state with the highest per capita public expenditure
himachial pradesh
state with the lowest per capita public expenditure
Bihar
adult literacy rate
percentage of population aged 15+ years who can both read and write with understanding a short simple sentence of her/his sentence alone
primary education competition rate
the number of new entracts (enrollment-repeaters) in the lastest grade of primary education, regardless of age, divided by the population at the entrance age for the last grade of primary education
young literacy rate
percentage of people aged 15+ to 24 years who can both read and write with understanding to a short simple statement on their everyday life
future prospects for human deveopment
- gender equalilty
- education for all
- higgher education
reasons why women should be still promoted to education in India
- to improve economic independence and social status of women
- women education makes a favourable impact on fertility rate and health care of women and children
percentage of people in rural areas who are unemployed and have studied at graudation level or higher
19
percentage of people in urban areas who are unemployed and have studied at graudation level or higher
16
problems with human capital formation in India
- brain drain
- rising population
- low acadamic standards
departments for education
- All India Council for Technical Education (AICTE)
- University Grants Commission(UGC)
- National Council of Educational Research and Training (NCERT)
department of medicine
Indian Council of Medical Research(ICMR)
steps taked by goverment to promote human capital formation
- tapan majumdar commitee
- right to education
- 2% education cess on all union taxes
- “skill india program”
what did tapan majumdar commitee estimate?
expenditure of 1.37 lakh crore over 10 years to bring all the Indian children in the age ap of 6-14 under purview of school expenditure
