Give an account of report published by World Bank on Indian economy as a knowledge economy.
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Recently World Bank has published a report called 'India and the Knowledge economy Leveraging Strengths and opportunities'. The report states that India should make a transition to the knowledge economy. If it uses its knowledge economy as much as Ireland does, then the per capita income of India will increase from a little over US $ 1000 in 2002 to US $ 3000 in 2020. It also claims that Indian economy has all the key ingredients required for making this transition like a critical mass of skilled workers, a well functioning democracy, and a diversified science and technology infrastructure.
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- 1View SolutionRead the passage given below and answer the following questions from 1 to 3.
India realized the significance of human capital in financial development in its early stages. The Seventh Five Year Plan says, ‘Human Resource improvement has essentially to be appointed a key part in any development technique, especially in a nation with such a grand population. The reason for this action plan being:
Higher Productivity of Physical Capital: Human capital boosts the productivity of physical capital as skillful and professional operatives can understand and function the machines or guidelines efficiently than untrained operatives. Human Capital encourages the advancement of new techniques for production and this results in the increase of economic development in the shape of an increase in GDP.- In which five year plan, India realised the importance of Human capital?
- Sixth
- Seventh
- Eighth
- Ninth
- Human capital formation is very important especially for the nations which have ________ population.
- Small
- Very Small
- Large
- None of these
- Human capital leads to an increase in ______________?
- Quality of life
- Standard of living
- Both (a) and (b)
- None of these
- 2View SolutionExplain how is India a knowledge economy.
- 3View SolutionHow goverment organisations facilitate the functioning of schools and hospitals in india?
- 4View SolutionDo you think the current level of education expenditure is inadequate? Why?
- 5View SolutionWhy do so many children drop out from different levels of education in India?
- 6View SolutionIndia is going to be a knowledge based economy in the near future'. Discuss.
- 7View Solution'Human resource is the main economic factor’. Discuss.
- 8View SolutionDiscuss the following as a source of human capital formation.
Health infrastructure. - 9View SolutionWhat is migration? What are its costs and benefits?
- 10View SolutionWhy unemployment is highest among the educated youth?