An Analysis of Educational Development Linked With Jobs in India Dr. Agarwal D.R.1, Ms. Shikha2,* 1Professor, Emeritus, Starex University, Gurugram, Haryana, 122413, India 2Assistant Professor, Starex University, Gurugram, Haryana, 122413, India *Corresponding Author: Ms. Shikha, Assistant Professor, Starex University, Gurugram, Haryana, 122413, India. E-mail: shikha4792@gmail.com
Online published on 2 July, 2019. Abstract Output is a function of inputs-primary as well as secondary. Capital formation has always been considered as an important tool in the process of growth. Capital, organization, enterprise, technology are now a day's inevitable and indispensable factors of production, because we are living in the era of large scale production, division of labour and specialization. In an era of open-economies, we have to build our competitive strength in order to face global challenges based on comparative cost theory of International Trade. Capital formation (both in human and non-human forms) includes the growth of a number of economic variables like net increase in machines, durable equipment commodity stocks (finished and semi-finished both) but these variables are not enough as they exclude expenditure on education, health, recreation and research and development, training programmes, constant improvement in technology by carrying out innovations etc. Human capital formation is considered to be one of the most essential phenomena because it uplifts the productivity in different sectors of the economy and also creates a favorable environment for investment in the economy. Economic development is a multi-dimensional concept, when the lowest section of the society gets nutritious and adequate food, access to safe drinking water, sanitation, better medical facilities, better schooling for their children, affordable facilities of transport and communication, adequate shelter, secure livelihood, productive and satisfying jobs and above all awakening about their duties and rights. Economists have attempted to measures the social indicators for constructing composite indices of human development. The challenge for the government is to reap out the demographic dividend by using quality education as a powerful driver. Employability cannot be blamed for long because unemployment rate in 2017–2018 touched a figure of 6.1 percent, a 45 year high. An attempt has been made to examine the dichotomy that on one hand India is going to be the 3rd largest economy of 10 trillion dollar by 2030 and on the other hand the job crisis, the paradoxical situation. Top Keywords Demographics, Human Capital, Technological Progress and Job Crisis. Top |