Roadmap for Answer Writing Introduction Define the relationship between poverty and malnutrition, emphasizing how they create a vicious cycle that adversely affects human capital formation. Mention the significance of addressing this issue for sustainable development. Understanding the Vicious Cycle Explain how poverty leads to malnutrition: Economic ...
Model Answer Effective development and management of human capital are crucial for promoting sustainable growth in India. This involves enhancing economic growth, fostering social advancement, and ensuring environmental sustainability. Enhanced Economic Growth Investing in human capital, particularlRead more
Model Answer
Effective development and management of human capital are crucial for promoting sustainable growth in India. This involves enhancing economic growth, fostering social advancement, and ensuring environmental sustainability.
Enhanced Economic Growth
Investing in human capital, particularly in education and skill development, can significantly boost India’s economic competitiveness. With over 65% of its population in the working age, India has the potential to become an economic superpower, supplying a substantial portion of Asia’s workforce in the coming decades. This demographic dividend can attract foreign direct investment (FDI) and stimulate economic growth .
Promotion of Entrepreneurship
A well-developed human capital framework encourages entrepreneurship, leading to the creation of new businesses and job opportunities. For instance, Indian entrepreneurs on platforms like Shopify contributed approximately ₹139 billion to the national GDP and created around 200,000 jobs in 2022. This entrepreneurial ecosystem is vital for sustainable economic development .
Equitable Development
Investments in education, particularly for marginalized groups such as women and minorities, empower these populations to participate in the workforce. Research indicates that every $1 spent on girls’ education can yield a return of $2.80, translating into billions of dollars in additional GDP .
High Earning Potential
Education enhances earning potential, with the World Bank noting that each additional year of learning can increase earnings by about 10% annually. This correlation between education and income underscores the importance of human capital development in securing better employment opportunities .
Green Innovations and Sustainability
Effective management of human capital in sectors like environmental science and renewable energy can drive green innovations. An educated workforce is more likely to adopt sustainable practices and technologies, such as smart irrigation systems in agriculture, which optimize resource use and promote environmental sustainability.
Government Initiatives
Recognizing the importance of human capital, the Indian government has launched initiatives like the National Education Policy, Pradhan Mantri Kaushal Vikas Yojana, and Ayushman Bharat Yojana to enhance the quality and accessibility of education and healthcare, thereby refining its human resources for sustainable growth .
In conclusion, the effective development and management of human capital are essential for fostering sustainable growth in India, impacting economic, social, and environmental dimensions.
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Model Answer Introduction Poverty and malnutrition are interconnected issues that create a vicious cycle adversely affecting human capital formation in India. Addressing these challenges requires a multifaceted approach that targets the root causes of malnutrition and poverty. How Poverty and MalnutRead more
Model Answer
Introduction
Poverty and malnutrition are interconnected issues that create a vicious cycle adversely affecting human capital formation in India. Addressing these challenges requires a multifaceted approach that targets the root causes of malnutrition and poverty.
How Poverty and Malnutrition Create a Vicious Cycle
Steps to Break the Cycle
By adopting these strategies, India can effectively address the intertwined issues of poverty and malnutrition, enhancing human capital and promoting sustainable development.
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