Poverty and Underdevelopment of India - 1911 Words

Health- education linkages inequality in distribution of stock of human capital means underinvestment on the one hand and mal-investment on the other, as total and per capita stocks of human capital figures in women and backward castes indicate. Perhaps, the main reason lies in the failure of human investment revolution in economic thought to really revolutionize common thinking. individuals as well as state policy makers still perceive education expenditure as consumption and as a burden on the state which reduces public savings. it is misleading to treat public expenditures of backward castes and women as welfare but must be treated as capital formation. Poverty and underdevelopment of India does not permit adequate investment in general, including education. From the private angle, weaker sections who should invest more in education have their present consumption needs focusing on survival where education is perceived as luxury. Even if people took loans, they prefer investment in more tangible and resale able assets which yield higher ROR in short gestation periods to investment in human capital. The state is constrained by its available resources and by its welfare expenditure approach to education. Further, the capital market is too poorly organized to provide funds for investment in education. Thus to bring equity in distribution of human capital between different groups serious efforts have to be made towards reducing discrimination in schooling, improvingShow MoreRelatedThe World Bank And Its Effects On Developing Countries Essay1572 Words   |  7 Pagesmore towards poverty reduction in developing countries, mainly through f inancial and technical support, and many critics analyze the World Bank’s involvement in these poverty-stricken countries. 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