Human Capital Formation In India
Write a critical note on the growth in Govt. expenditure on education?
Growth in Govt, expenditure on education : Govt. expenditure on education is expressed in two ways : (i) as a percentage of total Govt. expenditure and (ii) as a percentage of GDP.
1. Govt, expenditure on education as a percentage of total expenditure : The percentage of education expenditure of total government expenditure indicates the importance of education in the scheme of things before the government. The percentage of education expenditure of GDP express how much of our income is committed to the development of education. During 1952-2002, education expenditure as percentage of total Govt. expenditure increased from 7.92 to 13.17.
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2. Govt. expenditure on education as a percentage of GDP : During 1952-2002 Govt. expenditure on education as percentage of GDP increased from 0.64
Elementary education takes a major share of total expenditure and the share of the higher/ tertiary education (institution of higher learning like college, polythechnical and universities) in the least thought on an average, the government spends less on tertiary education. Expenditure per student in tertiary education in higher than that elementary education.
The per capita education expenditure differs considerably across states from as high as Rs.3,440 in Lakshadweep to as low as Rs.386 in Bihar.
The expenditure on education is inadequate if we compare it to with the desired level of education expenditure as recommended by the various commission. The Education Commission (1964-66) recommended that at least 6% of GDP should be spent on education so as to make a noticeable rate of growth in educational achievements. But the current expenditure on education is a little over 4% of GDP. It is quite inadequate.
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What is meant by human capital formation?
Human capital formation is the process of adding to the stock of human capital over time.
What do you mean by the term 'sources of human capital formation?'
A professor earns a higher wage than a peon in the college. Why?
What is human developments?
What is 'on the job training'?
Give the different forms of 'on the job training'.
Why is expenditure regarding on-the-job training a source of human capital formation?
What is investment in education?
Mention on the main forms of development of human resources.
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