India recognises the significance of human capital formation in the context of economic growth .India is developing into a knowledge economy but there are serious problems in the process of human capital formation :
1. Rising population : Population is rising rapidly and affects the quality of human capital .It reduces per head availability of existing facilities like sanitation ,employment ,drainage ,water system, housing,hospitals ,education ,food supply and etc .
2.Brain drain : people born here,educated here and providing services to other countries by migrating themselves there,causes brain drain .
3…Insufficient Manpower planning:There is insufficient manpower planning and only meagre 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.As a result ,with its present pattern of education expansion,and india is facing one of the most explosive problems of discontent and frustration ,that of graduate unemployment.
4.Insufficient On the job training; Agriculture is the backbone of underdeveloped countries,but less attention is paid on agricultural development and there is hardly any provision for ‘on the job training programme’in agriculture.Little is done to educate farmers to use modern agricultural technology. The insufficient supply of qualified and trained agricultural technologists is responsible for a meagre attention to agricultural development and human capital formation .
5.Low academic standards; To speed higher education we have been opening many universities without caring for their academic standards ..This tends to lower the efficiency of our graduates and post graduates employed in both public and private sectors of economy.
These are the problems faced by human capital formation in India.
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Good read. Problems addressed well.
good one 🙂