stillff.blogg.se - Dia non formal education

As a percentage of total government expenditure.

There are two areas where government expresses there expenditure. Growth in Government Expenditure on Education Our government has always valued the importance of education in India and this is reflected in our economic policies. This improves and increases knowledge and results in skill development hence enhancing the quality of the human capital. All the conventional and orthodox school of thoughts gets eradicated and hence the rate of participation in the workforce increases the production level.īrowse more Topics under Human Capital Formation In IndiaĮducation in India means the process of teaching, learning, and training of human capital in schools and colleges. A positive picture of the society can be depicted when the process of human capital formation goes in right direction.The increment in employment rate and reduction in income inequalities are indicators of economic development. Also, the standard of living increases by an increase in income and increase in employment opportunities helps in reducing inequalities of wealth. As the employment increases there will be a rise in production. A higher rate of participation of human capital and equality amongst them leads to higher employment rate.New methods of production can be introduced by innovative human capital and these facilitate an increase of production and economic growth in the form of an increase in GDP.This increases productivity and hence increased production leads to economic growth.

This human capital increases the productivity of physical capital.

Skilled and specialized workers can handle complex machines or techniques, which unskilled workers cannot.

Looking at the below-mentioned points, one can certainly say that both, human capital and economic growth are interdependent on each other. The seventh five-year plan dictates, “Human resources development has necessarily to be assigned a key role in any development strategy, particularly in a country with a large population”. Long back the Indians recognized the importance of human capital. Human Capital and Economic Growth stay hand in hand together, keeping an eye on the development of the country.