Indias Green and IT Revolution


 
 
Concept Explanation
 

Indias Green and IT Revolution

Overview: Population is an asset for the economy rather than a liability. It becomes human capital when investments are made in its healthcare, training and education. Land and capital cannot become useful by themselves unless human capital makes them useful. That is why human capital is superior to other forms of capital. Working population of a country, their existing productive skills and abilities are known as ‘People as Resource’. This productive nature of population helps to develop the Gross National Product (GNP) of a country through its abilities. So, it is also known as ‘Human Resource’. When the existing human resource is further developed by becoming more educated and healthy, we call it ‘human capital formation’. It adds to the productive power of the country Just like physical capital formation.

India’s Green and IT Revolution: It 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, Government of India.

 
 
 


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