Learning Objective
- Overview
- Economic Activities by Men and Women
- Quality of Population
- Unemployment
Overview
- “People as a Resource refers to a country’s working population and their skills. Like other resources, the population is considered a valuable asset. When this human resource is further developed through education and health, it’s called human capital formation.
- Investing in human capital—through education, training, and healthcare—yields return, just like investing in physical assets. Human capital is superior to land and physical capital, contributing to overall productivity and economic growth. Countries like Japan have wisely invested in their human resources.”
Economic Activities by Men and Women
Economic Activities are divided into three sectors: primary, secondary, and tertiary.
Primary sector: Involves activities like agriculture, forestry, and mining.
Secondary sector: Includes manufacturing.
Tertiary sector: Encompasses trade, education, health, and more.
Market activities provide remuneration (pay or profit), while non-market activities are for self-consumption. Historically, women faced unequal pay and job insecurity. Education is crucial for better economic opportunities. Women with high education and skills received better pay.
Quality of Population
“A country’s growth depends on a literate, healthy population. Literacy, life expectancy, and skills matter. A strong population is an asset.”
Education
“Education enhances society, boosts national income, and improves governance efficiency. Literacy is essential for citizens to fulfill their duties and rights. Initiatives like Sarva Siksha Abhiyan provide elementary education to children aged 6–14. The mid-day meal scheme encourages attendance and nutrition. The 12th plan focuses on access, quality, and technology integration.”
Health
“India has prioritized improving healthcare, family welfare, and nutrition for the underprivileged. Over the past five decades, the country has developed its workforce across primary, secondary, and tertiary sectors.”
Unemployment
- “Unemployment in India varies between rural and urban areas. In rural regions, seasonal and disguised unemployment were common. Urban areas faced educated unemployment. Unemployment wastes manpower resources, strains the economy, and hampers overall growth. Despite this, India’s statistical unemployment rate remains low.
- In the primary sector, self-employment prevails, with agriculture as the major labor-absorbing industry. However, recent years have seen a shift away from agriculture. Surplus labor has moved to the secondary and tertiary sectors, including small-scale manufacturing and emerging services like Biotechnology and Information Technology.”
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