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Question
Explain the reports on the Indian economy and India's human capital released by the World Bank.
Explain the reports on the Indian economy and India's human capital released by the World Bank.
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Solution
The report of the World Bank titled "India and the Knowledge Economy- Leveraging Strengths and Opportunities", states that India should make a transition to the knowledge economy.
If the Indian economy uses its knowledge effectively, then its per capita income will rise from a little over 1,000 USD in 2002 to 3,000USD in 2020.
The report further states that the Indian economy has all the key ingredients for making this transition. It has a large number of skilled workers, a well-functioning democracy and a diversified science and technology infrastructure.
The report of the World Bank titled "India and the Knowledge Economy- Leveraging Strengths and Opportunities", states that India should make a transition to the knowledge economy.
If the Indian economy uses its knowledge effectively, then its per capita income will rise from a little over 1,000 USD in 2002 to 3,000USD in 2020.
The report further states that the Indian economy has all the key ingredients for making this transition. It has a large number of skilled workers, a well-functioning democracy and a diversified science and technology infrastructure.
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