What are the main problems of human capital formation in India?
What are the main problems of human capital formation in India?
The main problems of human capital formation in India are as follows:
(i) Rising Population: Rapidly rising population adversely affects the quality of human capital in underdeveloped and developing countries like India. It reduces per head availability of existing facilities like sanitation, employment, drainage, water system, housing, hospitals, education, food supply, nutrition, roads, electricity, etc.
(ii) Brain Drain: Migration of highly skilled labour to foreign countries is termed as 'brain drain'. This slows down the process of human capital formation in the domestic economy.
(iii) Inefficiencies in Planning: There is inefficient planning in less developed countries where no efforts have been made either to raise the standard of education at different stages or to maintain the demand and supply of technical labour force. It is a reflection on the wastage of human power and human skill.
(iv) Long-term Process: The process of human development is a long-term policy because skill formation takes time. The process which produces skilled manpower is slow. This also lowers our competitiveness in the international market of human capital.
(v) High Poverty Levels: A large proportion of the population lives below the poverty line and do not have access to basic health and educational facilities. A large section of society cannot afford to get higher education or expensive medical treatment for major diseases.
The main problems of human capital formation in India are as follows:
(i) Rising Population: Rapidly rising population adversely affects the quality of human capital in underdeveloped and developing countries like India. It reduces per head availability of existing facilities like sanitation, employment, drainage, water system, housing, hospitals, education, food supply, nutrition, roads, electricity, etc.
(ii) Brain Drain: Migration of highly skilled labour to foreign countries is termed as 'brain drain'. This slows down the process of human capital formation in the domestic economy.
(iii) Inefficiencies in Planning: There is inefficient planning in less developed countries where no efforts have been made either to raise the standard of education at different stages or to maintain the demand and supply of technical labour force. It is a reflection on the wastage of human power and human skill.
(iv) Long-term Process: The process of human development is a long-term policy because skill formation takes time. The process which produces skilled manpower is slow. This also lowers our competitiveness in the international market of human capital.
(v) High Poverty Levels: A large proportion of the population lives below the poverty line and do not have access to basic health and educational facilities. A large section of society cannot afford to get higher education or expensive medical treatment for major diseases.
