October 12, 2018

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Human Capital Formation in India



Human Capital Formation in India

                                              

  • Human capital is the stock of competencies,knowledge, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value.

 

  • Sources of Human Capital

 

  • Investment in education and health
  • On- the- job training
  • Migration
  • Information about the markets

 

  • Physical Capital v/s Human Capital

 

Physical Capital Human Capital
Tangible and can be easily sold in the market. Intangible and is not sold in the market; but its services do.
Completely mobile between countries. Not perfectly mobile between countries.
Separable from its owner. Inseparable from its owner.
Continuous use leads to depreciation. Depreciation takes place with ageing but can be reduced.
Creates only private benefit. Creates external benefit.

 

  • Human Capital and Economic Growth

 

 

  • Government of India has a three- tier structure to carry out expenditure on education and health simultaneously at local, state and national level through municipal corporations and panchayats.

 

 

  • Organisations in India

 

  • National Council of Educational Research and Training (NCERT):
  • University Grants Commission (UGC)
  • All India Council for Technical Education (AICTE)
  • Indian Council of Medical Research (ICMR)

 

  • Education Sector in India
Year Total Expenditure on Education and Training

(` Crores)

% Education expenditure to GDP % Education expenditure to all sectors expenditure
1951-52 64.46 0.64 7.94
1960-61 239.96 1.48 11.99
1970-71 892.36 2.31 10.96
1980-81 3884.2 2.98 10.67
1990-91 19615.85 3.84 13.37
2000-01* 77847.66 4.11 13.55
2004-2005* 104566.0 3.68 12.76

 

Particulars 1990-91 2000-01 2008-09
Adult Literacy Rate

(% of people aged 15+)

Male 61.9 68.4 75
Female 37.9 45.4 51
Primary Completion Rate (% of relevant age group) Male 78 85 95.3
Female 61 69 91.7
Youth Literacy Rate

(% of people aged 15+ to 24)

Male 76.6 79.7 87
Female 54.2 64.8 74



 

 

 

 

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