Give an account of human capital of India.
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Size of Population in India At the time of independence India's population was only $38.4$ million but it has become now $1210$ million. In terms of global ranking, India's status is as follows:
It show's poor usage of human resource in India.Growth of Population:
Till 1981 population was growing very fast thereafter, the rate of growth slowed down.
Life Expectancy: It refers to the number of years, on an average; a human being is expected to survive. It is $65.6$ years for females and $64$ years for males in $2007.$
Infant Mortality Rate: $\text{IMR}$ refers to the number of children dying before attaining the age of $1.$ It is $44$ per thousand in urban areas and $70$ per thousand in rural areas.
Density of Population: It refers to the number of people living per square kilometer on an average. It has become $324$ persons per sq. km. Therefore, a higher population will mean higher burden on land.
Age$-$Composition: Age composition is determined by fertility. With fall in birth rate we can expect fall in dependency ratio, increase in working population and hence more $\text{GDP}$ and savings.
Sex$-$Composition: In India, almost in every state except Kerala, Sex ratio is favourable to men. It stood at $940$ per thousand in $2011.$ Reasons for this adverse sex ratio are under count of women, gender inequality, feiticide, female selective termination of pregnancy and natural lag in young ages being reflected in long run.
Rural Urban Divide: There has been an increase in population living in urban areas but still rural areas are dominating with 68% population. Urban population has risen from $17.1\%$ in $1951$ to $32\%$ in $2011.$
State of Literacy: Literacy rates have also increased. It has become $74.04\%$ in $2011$ with $82.14\%$ for males and $65.46\%$ for females.
|
Category
|
Area
|
Population
|
Labour force
|
$\text{HDI}$
|
Real $\text{GDP}$ per capita
|
|
Global Rank
|
$7^{th}$
|
$2^{nd}$
|
$2^{nd}$
|
$134^{th}$
|
$127^{th}$
|
Till 1981 population was growing very fast thereafter, the rate of growth slowed down.
|
Year
|
$1891-1921$ | $1921-1951$ | $1951-1981$ | $1981-1991$ | $1991-2001$ | $2001-2011$ |
|
Growth rate
|
$0.19$ | $1.22$ | $2.15$ | $2.11$ | $1.93$ | $1.64$ |
Infant Mortality Rate: $\text{IMR}$ refers to the number of children dying before attaining the age of $1.$ It is $44$ per thousand in urban areas and $70$ per thousand in rural areas.
Density of Population: It refers to the number of people living per square kilometer on an average. It has become $324$ persons per sq. km. Therefore, a higher population will mean higher burden on land.
Age$-$Composition: Age composition is determined by fertility. With fall in birth rate we can expect fall in dependency ratio, increase in working population and hence more $\text{GDP}$ and savings.
Sex$-$Composition: In India, almost in every state except Kerala, Sex ratio is favourable to men. It stood at $940$ per thousand in $2011.$ Reasons for this adverse sex ratio are under count of women, gender inequality, feiticide, female selective termination of pregnancy and natural lag in young ages being reflected in long run.
Rural Urban Divide: There has been an increase in population living in urban areas but still rural areas are dominating with 68% population. Urban population has risen from $17.1\%$ in $1951$ to $32\%$ in $2011.$
State of Literacy: Literacy rates have also increased. It has become $74.04\%$ in $2011$ with $82.14\%$ for males and $65.46\%$ for females.
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Similar Questions
- 1View SolutionWhat are the main problems of human capital formation in India?
- 2View SolutionWhat are the differences between human capital and human development?OR
Bring out the differences between human capital and human development. - 3View SolutionWhat factors contribute to human capital formation?
- 4View SolutionRead the passage given below and answer the following questions from 1 to 5.
Traditional economic theory viewed capital in physical terms only. Economists during the late 1950s based on the aggregate production function found that the standard measures of simple labour and physical capital were incapable of explaining adequately the rapid post-war growth. Speculations on what was missing were diverse. Some argued that the principal explanation lays in the lack of appropriate adjustments for improvement in the quality of physical capital and the embodiment of technical progress in that capital. Others suggested that the most important omission pertains to the organisational advance or a vaguely specified human capital. The residual of unexplained growth was at first ascribed to technology by Solow, but later, the residual was defined to include improvements in the quality of capital can the investment in human beings. Human capital is formed with improvement in skills education. Improved health and education is merit as well as a public good and is associated with a large number of externalities which are often indirect, indivisible and non-quantifiable.- Which of the following gives the definition of public goods?
- Excludable and non rivalrous in nature
- Non-excludable and non-rivalrous in nature
- Non-excludable and rivalrous in nature
- Excludable and rivalrous in nature
- Consider the situation of 2 countries – A and B. Country A has invested more towards the technological progress whereas Country B has invested more towards expanding its military network and arms. To Solow, which country would go faster?
- Country A
- Country B
- Both grows and the same pace
- Can’t comment
- Standard economic theories failed to explain the post war rapid growth due to?
- Measuring growth in terms of physical inputs only
- Ignoring other important factors such as improved skills and education
- Both (a) and (b)
- None of the above
- An externality is the good or bad impact which enters the utility or production function of another individual or firm with no choice of their own. The given statement is?
- True
- False
- Partially True
- Partially False
- In the context of the above paragraph, the ‘residual’ factor include.
- Improvement in the quality of human capital
- Investment in human beings
- Improvement in technology
- All of the above
- 5View SolutionExplain the main sources of human capital formation.
- 6View SolutionExplain how investment in education stimulates economic growth.
- 7View Solution"The Indian education pyramid is steep." Elaborate.
- 8View SolutionWrite a short note on Human Development Index (HDI).
- 9View SolutionWhat is human capital? Explain atleast three areas where expenditure made is considered to be expenditure on human capital formation.
- 10View SolutionEducation is considered to be an important input for the development of a nation. How?