This Article is published in this book entitled "Transformation of Indian Economy".
-*Dr. S. Vijay Kumar
The greatest and the most
precious asset of a country is its people as it is they who exploit all natural
resources and potentials of a region. These people form the wealth of a nation.
It is on the quality of citizens that the prosperity of a nation depends. “Human resource refers to the size of population of a country
along with its efficiency, educational qualities, productivity, organization
abilities and farsightedness”. HR is a
multi-dimensional and vital factor for economic development of a country. Development
economics in recent years have become more people centric than before. It has
rediscovered that “Human beings are both
the means and the end of economic development process”, and without Human
Development that process becomes hollow rhetoric. “ Human Resource Development is any process or
activity that, either initially or over the longer-term, has the potential to
develop adults‟ work based knowledge, expertise, productivity, and
satisfaction, whether for personal or group/team gain, or for the benefit of an
organization, community, nation, or, ultimately the whole humanity”. India is an emerging global
economic superpower. The imperative of turning this
prophecy into reality is compelling. A strong unbreakable link has to be established from the
refinement of the past to the excitement of the present and to the potential of
the future.There is a need to think, how to meet the
demand and project India as a strong nation, a challenge on how
to leverage holistically a global presence. Of course,it is estimated that there is a 20 million strong
Indian diaspora in key countries
across the globe. Every sixth human being is an Indian. Hence, India has a
demographic weight.The former President of India, Dr. A P J Abdul
Kalam, identifies India’s human resource base as one of its greatest core
competencies in a book titled India 2020: A Vision for the New
Millennium. Quoting Sir Winston Churchill at the HT Leadership Summit –
“India: The Next Global Superpower?”Our former Prime Minister Manmohan Singh in
his speech said - “empires of the future will be the empires of the mind.” This statement not only recognizes the
importance of knowledge possessed by individuals in determining the destinies
of nations, it also subtly hints that the intellectual, cultural, social,
economic and political empowerment of these individuals is the basis on which
the modern world will be constructed.
“India’s strength lies in its demographics
which will determine everything that a country does. More than 50% of India’s population
is under 25. India has a great potential to become an economic super power
because of its growing young population.” A young population coupled with the second largest English
-speaking population in the world will give India an advantage over China.
But, this young population though dynamic and rearing to go is also a
restless lot looking around for newer opportunities. Hence, attracting
and placing the right people with the right skills in the right position by
identifying the essential skills, interest, aptitude, attitude and behaviors is
the need of the hour in developing a knowledgeable and committed workforce. In
this Paper, I have made an attempt to focus the role of human resource
development in the context of India.
Brief Review of Literature: The
history and origin of “Human Resource Development” is not very old. The term
came into use only in the early seventies. According to Prof. Len Nadler, “The
term HRD was first applied in 1968 in the George Washington University. In
1969, it was used in Miami at the American Society or Training and Development
Conference. But by the middle of 1970s it was gaining more acceptances.If we look back into the history of civilizations, the
hypothesis that the prosperity of a nation depends on the quality of their
citizens becomes crystal clear. This was the main reason behind the economic
revolution achieved by some countries, badly battered, ravaged and ruined
during the Second World War. For example, Germany and Japan were virtually
shattered and their economies were in a shambles. But with organizational
skill, talent, vigor, inventive genius and indomitable spirit of their people,
they achieved, within a short span, a measure of a momentous miracle. They not
only rejuvenated their own economies, but also sent their surplus produce to
the nations who needed them. They accomplished this task by the optimum
utilization of their precious manpower.The
importance of Human Resource can also be realized from the analysis of four
factors of production that is land, labour, capital and organization
(Entrepreneur) as given by Professor Adam Smith the Father of Economics. On
analyzing these four factors of production, we arrive at a conclusion that out
of these, two are in the form of human capital (labour and entrepreneur) giving
weightage of fifty percent to human resource. In fact, people are the active
agents. They accumulate capital, exploit natural resources, build social,
economic and political organizations and carry forward the task of national
development.Evidence rapidly accumulated showing that only a portion of
the growth of output over time can be statistically explained by changes in the
quantity of conventional factors of production. The residual growth must be
explained largely by changes in the quality of the labour force, that
is, by the development of human resources. Empirical work relating to the
improved education of labour and to entrepreneurship, only reinforced this now
widely accepted proposition (e.g., Meier, 1964; Schultz, 1971 and 1981, and
Chaudhri, 1974). The importance of human resources development for overall
economic growth has been further documented by the more recent experience of
the so-called newly developed countries, such as those of East Asia.
Different Human Resource (HR) Models or “Thoughts”: Whether it's the
Japanese model "Shushin Koyo",
German method "working islands", “American model based on ownership, human resources” plays a crucial
role and are rated as "one of the most important investments of the
organization whose results become evident over time." (Manolescu,2001). Human Capital Development Theory (e.g. Gary
Becker), Firstly, it focused on proving that by investing people will get a
higher human capital which will be used to gain higher incomes accordingly to
knowledge held. Secondly, specialists
(Schultz, Becker, Mincer and others) analyzed its components in terms of
human capital(Educational Capital and Social - Health Capital), but also from
the perspective of human capital – labour migration, human capital -
unemployment, human capital - poverty. Thus, through this research, some
experts were concerned with the problem that their economy now found an
explanation through human capital theory, namely through the use and
development of human resources. Scientist
G. Becker explains the extraordinary economic success of Japan and Taiwan and other
Asian countries through massive investment in human capital. He claims
that, having the lack of natural resources and facing discrimination imposed by
the West, Asian countries especially Japan have developed rapidly, building on a
well-trained workforce, educated and hard working class, technologies required
in the production process and in the economy overall. In the Wealth of Nations (1776), Adam Smith’s ideas of
specialization of labor dominated the ideas about human capital.But, Alfred
Marshall (1898), argued that man
should be equally important as money, services are as important as goods, and
that there must be an emphasis on human welfare, instead of just wealth. On the other hand Karl Marx, a revolutionary
economist opines that ultimately human resource (Labour) is vital for economic
development of a country, hence we have to educate and train them in a proper
way.
Indian Model:The
Indian HRD model is based on Elementary, Adult, Secondary, Higher, Technical
and Distance Education/Learning. India has a Ministry of Human Resource
Development (MHRD) is responsible for the development of human resources. The
Ministry is divided into two departments-the Department of School Education and
literacy which deals with primary education and literacy, and the Department of
Higher Education, which deals with post – secondary education.MHRD has created
pockets of excellence (IITs, NITs, IISs etc.) by imparting academic and skill
education in various fields. The University Grant Commission (UGC) works under
Department of Higher Education, MHRD, Government of India. India has advanced
in software technology and quality professionals.India also advanced in
management sciences, space programs and extended education in remote and
backward areas. Indian women force has advanced in education and skills. Large
number of females is working at local level, as well as abroad. India is
earning much more foreign exchange through remittances from abroad.
Role of Human
Resources in Economic Development: India with a huge population has the human resource to
manage and contribute towards Indian economy which differentiates it from the
developed countries and it has also the challenges of huge population. According to the
National Planning Commission (NITI Ayog), “Human
resource is the knowledge, skill, efficiency and physical and mental capacity
to do work inherent in the people of the country”. Capital,
natural resources, as well as other productive resources remain inactive in the
nature but, human resources are necessary to mobilize them. HRD is a
key driver and component of economic development and it leads to a number of
social and economic benefits including jobs, reduction in poverty, increase in standard
of living and better quality of life, better civil society etc. The role of human resources in economic development can be
explained with the help of following salient points:
Development of Skills:Slow
growth in several developing countries like India is mostly resulted from lack
of investment in human capital (the skills, knowledge, and experience possessed by an individual
or population, viewed in terms of their value or cost to an organization or
country). These countries are suffering from lack of critical skills
required for its industrial sector and also face the problem of surplus labour
force in its farm sector. Thus human capital formation is very much required
for the economic development of the developing countries. In this connection, Prof. Hla Myint (Burmese Development
Economist) observes
that, “It is now increasingly recognized that many under
developed countries may be held back, not so much by a shortage of savings as
by a shortage of skills and knowledge resulted in a limited capacity of their
organizational framework to absorb capital in productive investment.”Thus,
the underdeveloped/developing countries are suffering from shortage of
technically trained and highly skilled and educated persons and the developed
countries are maintaining high level of investment on the development of
manpower resources.Accordingly, Prof.
Meier observed that, “While investment in human beings has been a major source
of growth in advanced countries, the negligible amount of human investment in
UDCs has done little to extend the capacity of the people to meet the challenge
of accelerated development.”Thus, in order to attain an all-round
development of the country, the human capital formation through adequate volume
of investment on human development is very much important under the present
context of development.
Proper Utilization of Resources:Human resources are considered important type of resources for attaining economic development of a country. Among various types of resources, human resources are the most active type of resources. Qualitative and quantitative development of human resources is very much required for the proper utilization of natural resources of the country. Thus the human capital formation according to Prof. Meier is “the process of acquiring and increasing the number of persons who have skills, education and experience which are critical for the economic and political development of the country.”
Increased Productivity: Schultz, Kenderick and Harbison have made some important studies recently so as to point out that a major part of the growth of national output in USA can be attributed to increased productivity which has been mostly realized out of capital formation. In this connection Prof. Galbraith was of the view that “we now get the larger part of industrial growth not from more capital investment but from investment in men and improvements brought about by improved men.”
Increased Volume of Output: As a result of human resource development, the production increases as the knowledgeable and skilled workers can make a rational use of all resources at their disposal. With the imparted knowledge, workers try to increase his output and income. Attainment of vocational skills helps the workers and all categories of manpower to earn higher level of income in various professions. For example, Software Engineers.The higher education and training at higher educational set up like college and universities usually enables workers to contribute liberally towards faster expansion of output in technical, engineering, machine building, accounting, management etc. Moreover, improved health facility can enhance physical capacity of workers. Thus all these factors positively contribute towards increased output.
Addition to Productive
Capacity:By upgrading the
technological scenario along with improved knowledge and skill can modernize
the production technologies and thereby can add to the productive capacity of
the country in general.Transfer of
technology from foreign countries can pave the way for adoption of modern
technology into production and thereby can improve the productive capacities.
Moreover, human capital formation can promote higher growth of the economy by
adding physical stock of capital of the country.In this context, we can make a mention about “Make in India Campaign”
started by our PM Narendra Modi.
Raises Growth Rate:Human resources development can raise the
growth of the country through increased formation of human capital. Imparting
knowledge can improve the productivity of workers and therefore, can raise the
per capita income. In this context, we can say that we have broken “Hindu Growth Rate”(Professor Rajkrishna, an
Indian economist, coined the term 'Hindu rate of growth' in 1978. The Hindu rate of growth is a term referring to the low annual
growth rate of the planned economy of India before the liberalization of 1991,
which stagnated around 3.5% from 1950s to 1980s, while per
capita income growth averaged 1.3%). Because these days, we are achieving faster growth rate in India due to
“Globalization” and “Increased Human Capital Formation”.
Tool for Economic Change:Human resource development can make the people knowledgeable,
skilled and physically fit. This can also change the attitudes of the people
and improve the personal qualities of people.Such changes are conducive to the
development of innovative capacity and entrepreneurship which usually motivates
people to work hard, take risks, do research and apply them to produce new
products and also to develop new processes of production. All these can work as
a tool for economic change.
Role of Government: The role of government is to enhance the human
resource development is a function of total public sector expenditure
allocation for human development sector, and how these expenditures are
allocated and spent. Allocation of public spending by the government is
holding a very important role in human resource development.
Improving the Quality of Life:Human resources development can pave the way for improving
quality of life for the people in general. This can be made possible through
improvements in the three components of Human Development Index (HDI), i.e.,
rise in per capita income, higher educational attainments and increase in life
expectancy.
Utilization of Natural Resources:Human resources are necessary for the utilization of
natural resources like mineral, water, forest etc. Utilization of these
resources is necessary for economic development. Thus, only human resources
mobilize and utilize them properly.
Compensate the Deficiency
of Natural Resources: The
utilization of human resource compensates the deficiency of natural resources.
Many countries are poor in natural resources like Japan, Hong Kong, Singapore
etc. but they are able to achieve high economic growth by properly utilizing
human resource.
Utilization of Physical Capital:
Only the existence of physical
capital can’t do anything for economic development. They should be properly
utilized. To operate machinery & equipment and to run factories and
industries is impossible without the involvement of human resource.
Increase in Production: The human resources of a country help to increase in the
production of different goods and services. By using skilled human resources, a
country can produce the variety of goods and services having high quality.
Changes in Technology: Human resources of a country can bring the new
technology. Advance technology is necessary to bring development in country.
There are other role of human
resources such as development of transportation and communication, supply of
labour etc.
India in the Sphere of Human Development: It is defined as the process of enlarging
people's freedoms and opportunities and improving their well-being. Human
development is about the real freedom ordinary people have to decide
who to be, what to do, and how to live. The human development concept
was developed by economist Mahbub ul Haq.
Human
Development Report (HDR), 2016:According to the 2016 Human Development
Report (HDR) released by UNDP, India slipped one place from 130 to 131 among
the 188 countries ranked in terms of human development. India’s human development index (HDI) value of 0.624 puts it in the
“medium human development” category, alongside countries such as Congo, Namibia
and Pakistan. It is ranked third among
the SAARC countries, behind Sri Lanka (73) and the Maldives (105), both of
which figure in the “high human development” category. The
world’s top three countries in HDI are Norway (0.949), Australia (0.939) and
Switzerland (0.939).
Measurement of
Human Development: In
its first Human Development Report of 1990, UNDP devised a measure called the
Human Development index (HDI). This measure combined three basic elements
considered proxies for the most important aspects of life: longevity, knowledge and the level of living. Longevity was measured by
expectation of life at birth, knowledge by literacy levels and level of living
by the purchasing power of per capita income. The method of combining these
three indicators into a single index is relatively simple. A choice of minimum
and maximum for each component is first determined and the position of the
indicator for the given country on this scale is calculated as a value between
zero and one. The resulting values of the three indicators are then averaged
out to give the human development index for the country.
Adjustments made
to the HDI since it was first devised in 1990:
- Educational Dimension:
1990: Education
was initially measured by literacy rates.
1991: Mean years
of schooling were added to literacy rates attainment (weights given one-third
and two-thirds respectively). This comprised a composite indicator to measure
educational attainment.
1995: The
estimate for mean years of schooling was replaced by combined gross enrollment rate
at primary, secondary and tertiary levels. This was due to the unavailability
of data on average years of schooling in most countries.
- Income per capita: HDI is
based on the premise that there are diminishing returns from income for
human development. Within this context, the following changes were made:
1990: Per capita
income above the poverty line was given zero weight.
1991: Per capita
income was given progressively diminishing weight. That is, income above the
poverty line has an effect, but still a marginal one.
- Minimum and maximum
variables fixed:
1990: The minima
and maxima for the variables were set at the level of the poorest-performing
and the best performing countries respectively.
1994: The minima
and maxima were fixed for the four basic variables: life expectancy (minimum 25
years, maximum 85 years), adult literacy (minimum 0 percent, max 100 percent),
mean years of schooling (Minimum 0 years, maximum 15 years), and income at PPP
(Minimum US$ 200, Maximum US$ 40,000).
In its 2010 Human Development Report, the UNDP began
using a new method of calculating the HDI. The following three indices are
used:
LE – 20
- Life
Expectancy Index (LEI) =
-----------
85 – 20
LEI
is 1 when Life expectancy at birth is 85 and 0 when Life expectancy at birth is
20.
MYSI + EYSI
- Education Index
(EI) = ---------------------
2
MYS
Mean Years of Schooling Index (MYSI) = --------
15
Fifteen is the projected maximum of this
indicator for 2025.
EYS
Expected Years of Schooling Index (EYSI) = -------
15
Eighteen is equivalent to achieving a master's
degree in most countries.
In (GNI pc
-- In (100)
- Income Index (II) =
-----------------------------
In (75,
000) – In (100)
II is 1 when GNI per capita is $75,000 and 0
when GNI per capita is $100.
Finally, the HDI is the geometric
mean of the previous three
normalized indices:
HDI = 3√LEI.EI.II.
Note:
LE: Life
Expectancy at birth
MYS: Mean years of schooling (i.e. years that a person aged 25 or older has spent in formal education)
EYS: Expected years of schooling (i.e. total expected years of schooling for children under 18 years of age)
GNI pc: Gross national income at purchasing power parity per capita
MYS: Mean years of schooling (i.e. years that a person aged 25 or older has spent in formal education)
EYS: Expected years of schooling (i.e. total expected years of schooling for children under 18 years of age)
GNI pc: Gross national income at purchasing power parity per capita
Causes of Poor Performance of India in
the Sphere of HDI:
Unequal Distribution in Income:
India's record of rapid economic growth in recent decades, particularly in the
last ten years or so, has tended to cause some understandable excitement. The
living standards of the 'middle classes' (which tends to mean the top 20 per
cent or so of the population by income) have improved well beyond what was
expected in the previous decades. But the story is different for the poor such
as the rickshaw puller, domestic worker or brick-kiln labourers. For them, and
other underprivileged groups, the reform period has not been so exciting. It is
not that their lives have not improved at all, but the pace of change has been
excruciatingly slow and has barely altered their abysmal living conditions.
Similarly, there has been a major slowdown in the growth of real agricultural
wages in the post-reform period: from about 5 per cent per year in the 1980s to
2 per cent or so in the 1990s and virtually zero in the early 2000s. It is only
after 2006, when the National Rural Employment Guarantee Act (NREGA) came into
force that the growth of real agricultural wages picked up again, especially
for women. The growth of real wages in other parts of the economy has also been
relatively slow, especially for casual or (so-called) 'unskilled' workers. Contrast
to this, according to comparable international data from the International
Labour Organization, real wages in manufacturing in China grew at an
astonishing 12 per cent per year or so in the first decade of this century,
compared with about 2.5 per cent per year in India.
Gender
Discrimination:
According to HDI Report, 2016 in South Asia, gender gaps in entrepreneurship
and labour force participation caused an estimated income loss of 19%. “Between
their first and fifth birthdays, girls in India and Pakistan have a 30% to 50%
greater chance of dying than boys,” the report noted. India`s gender balance is one of the human
development indicator that raises concern. Robust economic growth in recent
decades has been associated with a significant deterioration in the populations
gender balance. The child sex ratio has declined from 964 in 1971 to 927 in
2001 and 919 in 2011. While for biological reasons many countries around the
world have a small imbalance in their juvenile sex ratios. But India`s
imbalance is acute and this definitely lowers the HDI value.
Child Malnutrition: Child
malnutrition in India is extraordinarily high among the highest in the world
with nearly one half of children under age of three being underweight or
stunted. Further the incidence of child malnutrition has remained stubbornly
high even after nearly two decades of post reform growth and prosperity. Child
malnutrition is much higher in South Asia than in Sub Saharan Africa, even
though infant mortality and child mortality is lower in South Asia. The high
rates of child malnutrition does not done well for India`s future. There is
compelling evidence from around the globe that early- life malnutrition has
significant adverse impacts on cognitive development, human capital formation
and labour market productivity in adulthood.
Inadequate
Implementation of Government Policies: Allegation of corruption and misuse of
funds are raised against different states regarding implementation of different
central schemes. States are nearly to do everything for the sake of their
party, not for in poor and downtrodden. If one takes the case of Sarva Siksha
Abhiyan, several allegations made against the Mid-Day meal scheme. In our
country in education and healthcare department corruption is deeply rooted.
Other:Regional disparities, low government investment in education
and health sector, improper health and nutritional facilities, population
explosion, wide spread poverty, corruption, unawareness of the people, lack of
safety nets to people etc. for which India still remains low in HDI ranking.
A Way Forward: Away
forward suggestions regarding HRD is as follows:
Good Governance: Good
governance has eight major
characteristics. It is participatory,
consensus oriented, accountable, transparent, responses, effective and
efficient, equitable and inclusive and follows the rules of law. It assures
that corruption is minimized, the views of people are taken into account and
that the voices of the most vulnerable in society are heard in decision-making.
It is also responses to the present and future needs of society. "The kind of governance-related
problems generally identified would include bureaucratic delays and
inefficiency, corruption, poor quality of public services and a judicial system
which is collapsing under the weight of archaic procedures and a huge backlog
of cases".
Education: The education policy should shift its focus from enrollment to improvement in the functioning of
schools as well as towards raising the quality of education outcomes.Special strategies are needed to improve the outreach
of the school system to the disadvantaged and marginalized groups in the
country. A more systematic school
mapping exercise should be undertaken to provide these groups access to schools
by removing social barriers to education.
Child Labour: The issue of child labour, which is estimated at a
whopping figure of 12 million children, should be tackled at the earliest, as
without it, there can be no improvement in child participation in schools. The
implementation and monitoring of this strategy should be done at the state
level, for which respective governments should create additional supervisory
structures and mobilize financial and human resources.
Social Sectors: Effective policies in the public health sector call
for a convergence of initiatives in different sectors. The focus should be on
certain wider determinants of healthcare like food and livelihood security,
drinking water, women’s literacy, better nutrition and sanitation, and above
all, confidence in convergent community action.
Public Health Policies: Effective policies in the public health
sector call for a convergence of initiatives in different sectors. The focus
should be on certain wider determinants of healthcare like food and livelihood
security, drinking water, women’s literacy, better nutrition and sanitation,
and above all, confidence in convergent community action. The public health
policy should focus on the prevention of diseases by providing clean water and
sanitation rather than fighting diseases by administering antibiotics. This
necessitates training of public health specialists and development of health
facilities at all levels.
Nutritional Sector: In order to reduce malnutrition, it is
imperative to promote policies for increasing food productivity as well as for
enhancing land use and desirable cropping patterns. With malnutrition being a
multi-dimensional issue, national level programmes like the Integrated Child
Development Scheme (ICDS) need to be revamped and restructured, and efforts
made to facilitate their convergence with schemes pertaining to health,
education, water, sanitation and food security at all levels. Food supplementation programmes are essential
for tackling hunger and food security issues, and for ensuring social equity.
Food supplements act as a transfer of resources to poor families and are
specially needed to reach some of the population groups like pregnant women and
nursing mothers, children below the age of 5 years, school children, and
adolescent girls.
Employment
Policy:There is a need for Suitable
Employment Policy with the objective to provide jobs to everyone. For this
a program of creating job opportunities at local level throughout the country
with simple infrastructure in the form of SME’s is to be introduced with
public-private partnership.The government policy of divorcing employment
creation from the growth process must be reversed in order to address the issue
of jobless growth of the organized sector. The unorganized sector should be
strengthened and sustained with investment to ensure its growth. Due to
inter-dependence between the organized and unorganized sectors, labour
productivity in the unorganized sector is crucial for improving employment
conditions in the organized sector. This is also important from the perspective
of human development as an estimated 90 per cent of the nation’s workforce is
currently engaged in the unorganized sector or the informal economy and it is
incumbent upon the Government to address the livelihood and employment needs of
this vast population.
Effective Participation of People: Effective participation of the
people should be ensured for facilitating accountability in social transfers.
There is a need to tackle issues of economic and social equity, gender bias,
and illiteracy at the grassroots level for this purpose. There is a need to
recognize the crucial role of women as agents of sustained socio-economic
growth and change. This necessitates focusing on removing gender gaps as well
as on women’s empowerment, which would have a significant impact on reducing
poverty and inequality.
Unexploited Human and Natural Resources: India has a large population on one side and abundant unexploited
natural resources (for example, unused rivers water entering seas) on the other
hand. Instead of both being properly managed to get optimum level of output,
mismanagement has kept both of them aloof, meaning that large manpower is not
being used properly and is facing serious problems in the form of unemployment
and its related issues. God gifted natural resources in many forms are readily
available and the need is just to explore them according to our requirements
and needs. At present, there is a need
to utilize the available manpower and natural resources to its optimum level for
the economic development of our country. The pre-requisite for Human Resource
Development in India is the will, tolerance and corruption free political
leadership followed by honest and competent administrative setup.
Socio-Economic Growth
and National Security: Socio- Economic growth and National Security have a
direct link with Human Resource Development. The more the HRD, the more
Socio-Economic Development and National Security and vice-versa. No matter how
advance is the technology in the present globalized era but again there is a
dire need of working hands. The more competent/skilled the human resource, the
more socio-economic development. The counties with strong economy have strong
national security. Population of any country is just like a raw material or
unexplored natural resource. The
countries which invest in their population in the form of education, skilled
and technical trainings, along with caring for their health, nutrition and
creating job opportunities can convert this raw material into a valuable
resource.
Other Measures:There should be focus on social
policy, empowerment of women, decentralization of social services, public
private partnerships in social services up to grass root level. Population
planning, policy of tax to GDP ratio, employment led growth and productivity,
developing IT sectors, fulfilling training gaps to the standards for facing
global competition, learning from international best practices, strict
accountability, target orientation culture to be adopted specially in the public
sector, agro based industries should be encouraged, involvement of people in
social works, foreign direct investment (FDI) must be diverted towards
employment generating projects.
Conclusion: The advanced countries of the world are
able to sustain their powerful position in the world economy due to their
strong human resource base with highly skilled and educated population. The
developing countries should try to strengthen their human resources. India
specially being a labour abundant country should be able to develop such a
strong base. The HDI Report, 2013
identifies four specific areas of focus for sustaining development momentum:
enhancing equity, including on the gender dimension; enabling greater voice and
participation of citizens, including youth; confronting environmental
pressures; and managing demographic change. Economic growth alone does not
automatically translate into human development progress. Pro-poor policies and
significant investments in people’s capabilities—through a focus on education,
nutrition and health, and employment skills—can expand access to decent work
and provide for sustained progress is must for improving HDI. In strong
competitive environment in international trade prevailing today, that country
will be a sure winner which has an efficient human resource cultivating new
innovative ideas.I conclude my Paper
with the following words: "When
planning for a year, plant corn, when planning for a decade plant trees, when
planning for life, train and educate people."
References:
Adam Smith –
Wikipedia
Eric
Hanushek, Economic Growth in Developing Countries: The Role of Human Capital,
Stanford University, April 2013
Gupta. S, Human
Resource Development: Concept and Practices
HDI Report, 2016
UNDP, The Hindu, Dated: 23/03/2017
Human
Development Index - Wikipedia
Misra and Puri -
Indian Economy
Ministry of HRD,
Govt. of India Website
Rao, T. V.
Future of HRD, New Delhi, Macmillan
Various web
side- Articles on Human Resource Development& on Role of Human Resources in
Economic Development of Various Countries and in Particular
India
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