Human Capital- Average School Life- 10 years
Technological Knowledge- Irrigation, nuclear energy and renewable energy
Data Derived from: CIA World Fact Book, NPCIL
Physical Capital- Textiles, chemicals, food processing, steel, transportation equipment
In 2008 India’s public debt was at 75.9 billion dollars. This means that the Indian government was spending more money than they were taking in from taxes and other sources of revenue. Human capital is very important because it leads to future growth of the country. India spends about 3.2% of its GDP on education. The average school life is 10 years compared to the US which is on average 16 years which means that India country won’t grow faster in the future. Only 61% of the Indian population can read. Compared to more developed countries like the United States India isn’t keeping up because in the United States 99% of the people can read. It seems that the Indian government is focusing on physical capital rather than human capital. An example of this would be a joint research project between India and Australia. They invested 20 million dollars for research for dry land farming in India. (India-server) The industrial growth rate is 4.8% which shows great promise for a great explosion in India’s GDP. One factor that is leading to growth in India is the fact that 48% of India is arable land which means they can support large populations. India's technological knowledge extends from irrigation to nuclear power plants. They have used nuclear power plants for the production of electricity. They started this program in 1987 to pursue economic growth with atomic energy. (NPCIL) India also almost produces enough natural gas to support itself. A total of 38% of India’s GDP comes from investment which is substantial. (CIA World Fact Book)
"Australia To Provide $70 Million For Indian Research Projects." Indiaserver. N.p., 12 Nov. 2009. Web. 9 Dec. 2009. http://www.india-server.com/news/%20.
"India." CIA World Fact Book. Central Intelligence Agency, 11 Nov. 2009. Web. 22 Nov. 2009.
Nuclear Power Corporation of India Limited. N.p., 10 Dec. 2009. Web. 10 Dec. 2009. http://npcil.nic.in/.
No comments:
Post a Comment