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2, , People as Resource, , Chapter, , Overview, The chapter 'People as Resource' is an, effort to explain population as an asset, for the economy rather than a liability., Population becomes human capital when, there is investment made in the form of, education, training and medical care., In fact, human capital is the stock of, skill and productive knowledge embodied, in them., 'People as Resource' is a way of, referring to a country’s working people, in terms of their existing productive, skills and abilities. Looking at the, population from this productive aspect, emphasises its ability to contribute to, the creation of the Gross National, Product. Like other resources population, also is a resource — a 'human resource'., This is the positive side of a large, population that is often overlooked when, we look only at the negative side,, considering only the problems of, providing the population with food,, education and access to health facilities., When the existing 'human resource' is, further developed by becoming more, educated and healthy, we call it 'human, capital formation' that adds to the, productive power of the country just like, 'physical capital formation'., Investment in human capital, (through education, training, medical, care) yields a return just like investment, in physical capital. This can be seen, directly in the form of higher incomes, earned because of higher productivity, of the more educated or the better trained, persons, as well as the higher, productivity of healthier people., 16, , Economics, , 2021–22, , India’s Green Revolution is a, dramatic example of how the input, of greater knowledge in the form of, improved production technologies can, rapidly increase the productivity of, scarce land resources. India’s IT, revolution is a striking instance of, how the importance of human capital, has come to acquire a higher position, than that of material, plant and, machinery., Source: Planning Commission, Govt. of India.

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population need not be a burden for the, economy. It can be turned into a, productive asset by investment in human, capital (for example, by spending, resources on education and health for all,, training of industrial and agricultural, workers in the use of modern technology,, useful scientific researches and so on)., The two following cases illustrate how, people can try to become a more productive, resource:, Story of Sakal, , Picture 2.1, , Let’s Discuss, •, , Looking at the photograph can you, explain how a doctor, teacher, engineer, and a tailor are an asset to the, economy?, , Not only do the more educated and the, healthier people gain through higher, incomes, society also gains in other, indirect ways because the advantages of a, more educated or a healthier population, spreads to those also who themselves were, not directly educated or given health care., In fact, human capital is in one way, superior to other resources like land and, physical capital: human resource can, make use of land and capital. Land and, capital cannot become useful on its own!, For many decades in India, a large, population has been considered a liability, rather than an asset. But a large, , There were two friends Vilas and, Sakal living in the same village, Semapur. Sakal was a twelve-yearold boy. His mother Sheela looked, after domestic chores. His father Buta, Chaudhary worked in an agricultural, field. Sakal helped his mother in, domestic chores. He also looked after, his younger brother Jeetu and sister, Seetu. His uncle Shyam had passed, the matriculation examination, but,, was sitting idle in the house as he, had no job. Buta and Sheela were, eager to teach Sakal. They forced him, to join the village school which he, soon joined. He started studying and, completed his higher secondary, examination. His father persuaded, him to continue his studies. He raised, a loan for Sakal to study a vocational, course in computers. Sakal was, meritorious and interested in studies, from the beginning. With great vigour, and enthusiasm he completed his, course. After some time he got a job, in a private firm. He even designed a, new kind of software. This software, helped him increase the sale of the, firm. His boss acknowledged his, services and rewarded him with a, promotion., People as Resource, , 2021–22, , 17

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Picture 2.2 Stories of Vilas and Sakal, , Let’s Discuss, Story of Vilas, , Vilas was an eleven-year old boy, residing in the same village as Sakal., Vilas’s father Mahesh was a, fisherman. His father passed away, when he was only two years old. His, mother Geeta sold fish to earn money, to feed the family. She bought fish, from the landowner’s pond and sold, it in the nearby mandi. She could, earn only Rs 150 a day by selling fish., Vilas became a patient of arthritis., His mother could not afford to take, him to the doctor. He could not go to, school either. He was not interested, in studies. He helped his mother in, cooking and also looked after his, younger brother Mohan. After some, time his mother fell sick and there, was no one to look after her. There, was no one in the family to support, them. Vilas, too, was forced to sell, fish in the same village. He like his, mother earned only a meagre, income., , 18, , Economics, , 2021–22, , •, , Do you notice any difference between, the two friends? What are those?, Activity, Visit a nearby village or a slum area, and write down a case study of a boy, or girl of your age facing the same, condition as Vilas or Sakal., , In the two case studies we saw Sakal, went to school and Vilas did not go. Sakal, was physically strong and healthy. There, was no need for him to visit the doctor, frequently. Vilas was a patient of, arthritis. He lacked the means to visit, the doctor. Sakal acquired a degree in, computer programming. Sakal found a, job in a private firm while Vilas, continued with the same work as his, mother. He earned a meagre income like, his mother to support a family., In the case of Sakal, several years of, education added to the quality of labour., This enhanced his total productivity., Total productivity adds to the growth of, the economy. This in turn pays an

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individual through salary or in some other, form of his choice. In case of Vilas, there, could not be any education or health care, in the early part of his life. He spends, his life selling fish like his mother., Henceforth, he draws the same salary of, unskilled labourer as his mother., Investment in human resource (via, education and medical care) can give high, rates of return in future. This investment, on people is the same as investment in, land and capital., A child, too, with investments made, on her education and health, can yield, a high return in future in the form of, higher, earnings, and, greater, contribution to the society. Educated, parents are found to invest more heavily, on the education of their child. This is, because they have realised the, importance of education for themselves., They are also conscious of proper, nutrition and hygiene. They accordingly, look after their children’s needs for, education at school and good health. A, virtuous cycle is, thus, created in this, case. In contrast, a vicious cycle may, be created by disadvantaged parents,, who themselves uneducated and lacking, in hygiene, keep their children in a, similarly disadvantaged state., Countries, like Japan, have invested, in human resource. They did not have any, natural resource. These countries are, developed/rich. They import the natural, resource needed in their country. How did, they become rich/developed? They have, invested on people, especially in the field, of education and health. These people, have made efficient use of other resources,, like land and capital. Efficiency and the, technology evolved by people have made, these countries rich/developed., , Economic Activities by Men and Women, Like Vilas and Sakal, people have been, engaged in various activities. We saw that, Vilas sold fish and Sakal got a job in the, firm. The various activities have been, classified into three main sectors i.e.,, primary, secondary and tertiary. Primary, sector includes agriculture, forestry,, animal husbandry, fishing, poultry, farming, mining and quarrying., Manufacturing is included in the, secondary sector. Trade, transport,, communication, banking, education,, health, tourism, services, insurance, etc., are included in the tertiary sector. The, activities in this sector result in the, production of goods and services. These, activities add value to the national, income. These activities are called, economic activities. Economic activities, have two parts — market activities and, non-market activities. Market activities, involve remuneration to anyone who, performs i.e., activity performed for pay, or profit. These include production of goods, or services, including government service., Non-market activities are the production, for self-consumption. These can be, , Picture 2.3 Based on the picture can you classify, these activities into three sectors?, People as Resource, , 2021–22, , 19

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consumption and processing of primary, product and own account production of, fixed assets., Activity, Visit a village or colony located near, to your residential area and note, down, the, various, activities, undertaken by the people of that, village or colony., If this is not possible, ask your, neighbour what is their profession?, In which of the three sectors will you, categorise their work?, Say whether these activities are, economic or non-economic activities:, Vilas sells fish in the village market., Vilas cooks food for his family., Sakal works in the private firm., Sakal looks after his younger brother, and sister., Due to historical and cultural reasons, there is a division of labour between men, and women in the family. Women, generally look after domestic chores and, men work in the fields. Sakal’s mother, Sheela cooks food, cleans utensils, washes, clothes, cleans the house and looks after, her children. Sakal’s father Buta, cultivates the field, sells the produce in, the market and earns money for the family., Sheela is not paid for the services, delivered for upbringing of the family., Buta earns money, which he spends on, rearing his family. Women are not paid, for their service delivered in the family., The household work done by women is, not recognised in the National Income., Geeta, mother of Vilas, earned an, income by selling fish. Thus women are, paid for their work when they enter the, labour market. Their earning like that of, their male counterpart is determined on, the basis of education and skill., 20, , Economics, , 2021–22, , Education helps individual to make better, use of the economic opportunities, available before him. Education and skill, are the major determinants of the earning, of any individual in the market. A majority, of women have meagre education and low, skill formation. Women are paid low, compared to men. Most women work, where job security is not there. Various, activities relating to legal protection is, meagre. Employment in this sector is, characterised by irregular and low, income. In this sector there is an absence, of basic facilities like maternity leave,, childcare and other social security, systems. However, women with high, education and skill formation are paid at, par with the men. Among the organised, sector, teaching and medicine attract, them the most. Some women have entered, administrative and other services, including job, that need high levels of, scientific and technological competence., Ask your sister or your classmate what, she would like to take up as a career?, , Quality of Population, The quality of population depends upon, the literacy rate, health of a person, indicated by life expectancy and skill, formation acquired by the people of the, country. The quality of the poulation, ultimately decides the growth rate of the, country. Literate and healthy population, are an asset., , Education, Sakal’s education in the initial years of, his life bore him the fruits in the later, years in terms of a good job and salary., We saw education was an important input, for the growth of Sakal. It opened new, horizon for him, provided new aspiration, and developed values of life. Not only for, Sakal, education contributes towards the, growth of society also. It enhances the

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...human being is a positive asset and, a precious national resource which, needs to be cherished, nurtured and, developed with tenderness and care,, coupled with dynamism. Each, individual’s growth presents a, different range of problems and, requirements. ... The catalytic action, of education in this complex and, dynamic growth process needs to be, planned meticulously and executed, with great sensitivity., , Picture 2.4 School children, , national income, cultural richness and, increases the efficiency of governance., There is a provision made for providing, universal access, retention and quality in, , Source: National Education Policy, 1986., , Graph 2.1: Trends in Literacy Rates In Post-Independent India, 90, 80, 70, , Literacy rates, , 60, 50, , Persons, Male, , 40, , Female, , 30, 20, 10, 0, , 1951, , 1961, , 1971, , 1981, , 1991, , 2001, , 2011, , 2017, , Year, , Source: Census of India, Office of Registrar General, India, 2019, (http://mospi.nic.in/publiction/women-and-men-indi-2019), , elementary education with a special, emphasis on girls. There is also an, establishment of pace setting of schools, like Navodaya Vidyalaya in each district., Vocational streams have been developed, to equip large number of high school, students with occupations related to, knowledge and skills. The plan outlay on, education has increased from Rs 151 crore, in the first plan to Rs 99,300 crore in, 2020–21. The expenditure on education as, a percentage of GDP rose from 0.64% in, 1951–52 to 3.1% in 2019–20 (B.E.) and, has remained stagnant around 3% from, past few years. The Budgetary Estimate, , Let’s Discuss, Study the graph and answer the following, questions:, 1. Has the literacy rates of the population, increased since 1951?, 2. In which year India has the highest, literacy rates?, 3. Why literacy rate is high among the, males of India?, 4. Why are women less educated than men?, 5. How would you calculate literacy rate, in India?, 6. What is your projection about India’s, literacy rate in 2025?, People as Resource, , 2021–22, , 21

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Activity, Count the number of boys and girls, studying in your school or in your, neighbouring co-ed school., Ask the school administrator to, provide you with the data of boys and, girls studying in the classroom. Study, the difference if any and explain for, reasons in the classroom., as stated in the Budget Documents of, Union State Governments, Reserve Bank, of India, the expenditure on education as, a percentage of GDP has declined to 2.7%, in 2017–18 (B.E.) The literacy rates have, increased from 18% in 1951 to 85% in, 2017. Literacy is not only a right, it is also, needed if the citizens are to perform their, duties and enjoy their rights properly., However, a vast difference is noticed across, different sections of the population., Literacy among males is nearly 14.4%, higher than females and it is about 14.2%, higher in urban areas as compared to rural, areas. In 2017–18, literacy rates varied, from 96.2% in Kerala to 70.9% in Bihar., The primary school system has expanded, to over 8.41 lakh in 2015–16., Unfortunately, this huge expansion of, , schools has been diluted by the poor, quality of schooling and high dropout, rates. “Sarva Siksha Abhiyan is a, significant step towards providing, elementary education to all children in the, age group of 6–14 years by 2010... It is a, time-bound initiative of the Central, government, in partnership with the, States, the local government and the, community for achieving the goal of, universalisation of elementary education.”, Along with it, bridge courses and backto-school camps have been initiated to, increase the enrolment in elementary, education. Mid-day meal scheme has been, implemented to encourage attendance and, retention of children and improve their, nutritional status. These policies could, add to the literate population of India., The Gross Enrolment Ratio (GER) in, higher education in the age group of 18, to 23 years is 26.3% in 2018–19, which, would be broadly in line with world, average. The strategy focuses on, increasing access, quality, adoption of, state-specific curriculum modification,, vocationalisation and networking on the, use of information technology. There is, also focuse on distance education,, convergence of formal, non-formal,, distance and IT education institutions., , Table 2.1: Number of Institutions of Higher Education, Enrolment and Faculty, Year, , Number of, Colleges, , Number of, Universities, , Students, , 1950 – 51, 1990 – 91, 1998 – 99, 2010 –11, 2012 –13, 2014 –15, 2015 –16, 2016 –17, 2017–18, 2018–19, , 750, 7,346, 11,089, 33,023, 37,204, 40,760, 41,435, 42,338, 41,012, 39,931, , 30, 177, 238, 523, 628, 711, 753, 795, 851, 993, , 2,63,000, 49,25,000, 74,17,000, 186,70,050, 223,02,938, 265,85,437, 284,84,741, 294,27,158*, 366,42,378, 37,399,388, , Teachers in Universities, & Colleges, 24,000, 2,72,000, 3,42,000, 8,16,966, 9,25,396, 12,61,350, 14,38,000, 14,70,190*, 12,84,957, 14,16,299, , Source: UGC Annual Report 2010–11, 2012–13, 2013–14, 2015–16 and Selected, Educational Statistics, Ministry of HRD., www.ugc.ac.in_Annual Report. 2018–19.pdf, *, , Provisional Data from All India Survey on Higher Education, 2017–18, 2018–19., , 22, , Economics, , 2021–22

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Over the past 60 years, there has been a, significant growth in the number of, university and institutions of higher, learning in specialised areas. Let us read, the table to see the increase in the, number of college, universities, enrolment, of students and recruitment of teachers, from 1951 to 2018–19., , Let’s Discuss, Discuss this table in the classroom and, answer the following questions., 1. Is the increase in the number of, colleges adequate to admit the, increasing number of students?, 2. Do you think we should have more, number of universities?, 3. What is the increase noticed among the, teachers in the year 2015–16., 4. What is your idea about future colleges, and universities?, , Health, Firm maximise profit: Do you think any, firm would be induced to employ people, who might not work efficiently as healthy, workers because of ill health?, The health of a person helps him to, realise his/her potential and the ability, , to fight illness. He/She will not be able, to maximise his/her output to the overall, growth of the organisation. Indeed; health, is an indispensable basis for realising one’s, well-being. Henceforth, improvement in the, health status of the population has been, the priority of the country. Our national, policy, too, aims at improving the, accessibility of healthcare, family welfare, and nutritional service with a special focus, on the underprivileged segment of the, population. Over the last five decades,, India has built a vast healt infrastructure, and has also developed the manpower, required at primary, secondary and, tertiary sector in government, as well as,, in the private sector., These measures, which have been, adopted, have increased the life, expectancy to over 68.3 years in 2016., *Infant mortality rate (IMR) has come, down from 147 in 1951 to 34 in 2016., **Crude birth rates have dropped to, 20.4 and ***death rates to 6.4 within, the same duration of time. Increase in, life expectancy and improvement in, childcare are useful in assessing the, future progress of the country. Increase, in longevity of life is an indicator of good, quality of life marked by self-confidence., Reduction in infant mortality involves, the protection of children from infection,, ensuring the nutrition of both the, mother and the child, and childcare., Source: National Health Profile, 2019, , Let’s Discuss, , Picture 2.5 Children standing in queue for, health check-up, , Study Table 2.2 and answer the following, questions., 1. What is the percentage increase in, dispensaries from 1951 to 2020?, 2. What is the percentage increase in, doctors and nursing personnel from, 1951 to 2020?, , * Infant mortality rate is the death of a child below one year of age., ** Birth rates is the number of babies born for every 1,000 people during a particular period of time., *** Death rate is the number of people per 1,000 who die during a particular period of time., , People as Resource, , 2021–22, , 23

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Table 2.2: Health infrastructure over the years, , H, , 2014, , 2015, , 2016, , 2017, , 2018, , SC/PHC/CHC, , 182,709, , 184,359, , 185,933, , 187,505, , 189,784, , Dispensaries, and Hospitals, , 29,715, , 29,957, , 30,044, , 31,641, , 31,733, , Beds (Govt.), , 675,779, , 754,724, , 6,34,879, , 710,761, , 713,986, , Registered Doctor in, Medical Council, , 36,355, , 41,711, , 44,934, , 43,581, , 41,371, , Nursing Personnel, (ANM+RN&RM+LHV), , 2,621,981, , 2,639,229, , 2,778,248, , 2,878,182, , 2,966,375, , SC: Sub centre, PHC: Primary Health Centre, CHC: Community Health Centre. ANM: Auxiliary, Nurse Hydrides, RN&RM: Registered Nurses & Registered Midwives, LHV: Lady Health Visitors., Source: National Health Policy, 2013, 2014, 2015, (National Health Profile, 2016, 2017, 2018, Central, Bureau of Health Intelligence, Ministry of Health and Family Welfare.), , 3. Do you think the increase in the, number of doctors and nurses is, adequate for India? If not, why?, 4. What other facilities would you like to, provide in a hospital?, 5. Discuss about the hospital you have, visited?, 6. Can you draw a graph using this table., There are many places in India which, do not have even these basic facilities., There are only 529 medical colleges in the, country and 313 dental colleges. Just four, states, like Andhra Pradesh, Karnataka,, Maharastra and Tamil Nadu have the, maximum number of colleges., Activity, Visit a nearby hospital, either, government or private and note down, the following details., How many beds are there in the, hospital you have visited?, 24, , Economics, , 2021–22, , How many doctors are there in the, hospital?, How many nurses work in that, hospital?, Besides, try to gather the following, additional information:, How many hospitals are there in your, locality?, How many dispensaries are there in, your locality?, , Unemployment, Sakal’s mother Sheela looked after the, domestic chores, children and helped her, husband Buta in the field. Sakal’s, brother, Jeetu, and sister, Seetu, spend, their time playing and roaming. Can you, call Sheela or Jeetu or Seetu, unemployed? If not, why?, Unemployment is said to exist when, people who are willing to work at the going, wages cannot find jobs. Sheela is not, interested in working outside her

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domestic domain. Jeetu and Seetu are too, small to be counted in the work force, population. Neither Jeetu, Seetu or Sheela, can be counted as unemployed. The, workforce population includes people from, 15 years to 59 years. Sakal’s brother and, sister do not fall within this age group so, they cannot be called unemployed. Sakal’s, mother Sheela works for the family. She, is not willing to work outside her domestic, domain for payment. She too cannot be, called unemployed. Sakal’s grandparents, (although not mentioned in the story), cannot be called unemployed., In case of India we have unemployment, in rural and urban areas. However, the, nature of unemployment differs in rural, and urban areas. In case of rural areas,, there is s e a s o n a l and d i s g u i s e d, unemployment. Urban areas have mostly, educated unemployment., Seasonal unemployment happens, when people are not able to find jobs, during some months of the year. People, dependant upon agriculture usually face, such kind of problem. There are certain, busy seasons when sowing, harvesting,, weeding and threshing is done. Certain, months do not provide much work to the, people dependant on agriculture., In case of disguised unemployment, people appear to be employed. They have, agricultural plot where they find work., This usually happens among family, members engaged in agricultural activity., The work requires the service of five, people but engages eight people. Three, people are extra. These three people also, work in the same plot as the others. The, contribution made by the three extra, people does not add to the contribution, made by the five people. If three people, are removed the productivity of the field, will not decline. The field requires the, service of five people and the three extra, people are disguised unemployed., In case of urban areas educated, unemployment has become a common, , phenomenon., Many, youth, with, matriculation, graduation and post, graduation degrees are not able to find, job. A study showed that unemployment, of graduate and post-graduate has, increased, faster, than, among, matriculates. A paradoxical manpower, situation is witnessed as surplus of, manpower in certain categories coexist, with shortage of manpower in others., There, is, unemployment, among, technically qualified person on one hand,, while there is a dearth of technical skills, required for economic growth., Unemployment leads to wastage of, manpower resource. People who are an, asset for the economy turn into a liability., There is a feeling of hopelessness and, despair among the youth. People do not, have enough money to support their, family. Inability of educated people who, are willing to work to find gainful, employment implies a great social waste., Unemployment tends to increase, economic overload. The dependence of the, unemployed on the working population, increases. The quality of life of an, individual as well as of society is adversely, affected. When a family has to live on a, bare subsistence level there is a general, decline in its health status and rising, withdrawal from the school system., Hence, unemployment has detrimental, impact on the overall growth of an, economy. Increase in unemployment is an, indicator of a depressed economy. It also, wastes the resource, which could have, been gainfully employed. If people cannot, be used as a resource they naturally, appear as a liability to the economy., In case of India, statistically, the, unemployment rate is low. A large, number of people represented with low, income and productivity are counted as, employed. They appear to work, throughout the year but in terms of their, potential and income, it is not adequate, for them. The work that they are pursuing, People as Resource, , 2021–22, , 25

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seems forced upon them. They may, therefore want other work of their choice., Poor people cannot afford to sit idle. They, tend to engage in any activity irrespective, of its earning potential. Their earning, keeps them on a bare subsistence level., , the secondary or the tertiary sector. In, the secondary sector, small scale, manufacturing is the most labourabsorbing. In case of the tertiary sector,, various new services are now appearing, like biotechnology, information technology, and so on., Let us read a story to know how people, could become an asset for the economy of, a village., Story of a Village, , Picture 2.6 Can you remember how much did, you pay when you asked him to, mend your shoes or slippers?, , Moreover, the employment structure, is characterised by self-employment in the, primary sector. The whole family, contributes in the field even though not, everybody is really needed. So there is, disguised unemployment in the, agriculture sector. But the entire family, shares what has been produced. This, concept of sharing of work in the field and, the produce raised reduces the hardship, of unemployment in the rural sector. But, this does not reduce the poverty of the, family, gradually surplus labour from, every household tends to migrate from the, village in search of jobs., Let us discuss about the employment, scenario in the three sectors mentioned, earlier. Agriculture, is the most labour, absorbing sector of the economy. In recent, years, there has been a decline in the, dependence of population on agriculture, partly because of disguised unemployment, discussed earlier. Some of the surplus, labour in agriculture has moved to either, 26, , Economics, , 2021–22, , There was a village inhabited by, several families. Each family, produced enough to feed its members., Each family met its needs by the, members making their own clothes, and teaching their own children. One, of the families decided to send one of, its sons to an agriculture college. The, boy got his admission in the nearby, college of agriculture. After some time, he became qualified in agroengineering and came back to the, village. He proved to be so creative, that he could design an improved, type of plough, which increased the, yield of wheat. Thus a new job of agroengineer was created and filled in the, village. The family in the village sold, the surplus in a nearby neighbouring, village. They earned good profit,, which, they, shared, among, themselves. Inspired by this success, all the families after some time held, a meeting in the village. They all, wanted to have a better future for, their children too. They requested the, panchayat to open a school in the, village. They assured the panchayat, that they would all send their, children to school. The panchayat,, with the help of government, opened, a school. A teacher was recruited, from a nearby town. All the children, of this village started going to school., After sometime one of the families, gave training to his daughter in

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tailoring. She started stitching, clothes for all the families of the, village for everyone now wanted to, buy and wear well-tailored clothes., Thus another new job, that of a tailor, was created. This had another, positive effect. The time of the, farmers in going far for buying clothes, was saved. As the farmers spent, more time in the field, the yield of, the farms went up. This was the, beginning of prosperity. The farmers, had more than what they could, , consume. Now they could sell what, they produced to others who came to, their village markets. Over time, this, village, which formally had no job, opportunities in the beginning, had, many like teacher, tailor, agro–, engineer and many more. This was, the story of a simple village where, the rising level of human capital, enabled it to evolve into a place rich, with complex and modern economic, activities., , Summary, You have seen how inputs like education and health helped in making people an, asset for the economy. The chapter also discusses about the economic activities, undertaken in the three sectors of the economy. We also study about the problem, associated with unemployment. Finally the chapter ends with the story of a village, which formally had no job but later had plenty., , Exercises, 1. What do you understand by 'people as a resource'?, 2. How is human resource different from other resources like land and physical, capital?, 3. What is the role of education in human capital formation?, 4. What is the role of health in human capital formation?, 5. What part does health play in the individual’s working life?, 6. What are the various activities undertaken in the primary sector, secondary, sector and tertiary sector?, 7. What is the difference between economic activities and non-economic activities?, 8. Why are women employed in low paid work?, 9. How will you explain the term unemployment?, 10. What is the difference between disguised unemployment and seasonal, unemployment?, 11. Why is educated unemployed, a peculiar problem of India?, 12. In which field do you think India can build the maximum employment, opportunity?, 13. Can you suggest some measures in the education system to mitigate the problem, of the educated unemployed?, 14. Can you imagine some village which initially had no job opportunities but, later came up with many?, 15. Which capital would you consider the best — land, labour, physical capital, and human capital? Why?, People as Resource, , 2021–22, , 27

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References, GARY, S. BECKER. 1966. Human Capital: A Theoretical and Empirical Analysis with, Special Reference to Education, General Series. Number 80. New York. National, Bureau of Economic Research., THEODORE, W. SCHULTZ. 'Investment in Human Capital'. American Economic Review., March 1961., Economic Survey 2015–2016. Ministry of Finance, Government of India, New Delhi., India Vision 2020. The Report. Planning Commission. Government of India,, New Delhi., Mid-Term Appraisal of the Tenth Five Year Plan (2002–2007). Planning Commission,, Part II. New Delhi., Tenth Five Year Plan ( 2002–2007). Planning Commission, New Delhi., Twelth Five Year Plan ( 2012–2017). Planning Commission, New Delhi., NCERT. 2016. Trilingual Dictionary of Economics, p. 62., , 28, , Economics, , 2021–22