Stock of Human Capital and Economic Development of Assam: An Analytical Proxy Tail

Abstract

The overall development otherwise known as all round development of a state or nation primarily depends upon its economic development. Thus, an economic development means the development or progress in all sectors of an economy. The economic development or various sectors in the economy can sustain only when its crore elements are fundamentally strong and sustainable. Hence, in order to make the human resources more strong, productive and employable, a nation ought to stock of human capital is very much essential. It is the various human earned quantities over the years which enhance his choices, creativity and productivity on income over time. It shows several qualitative lengths of human activities in contrast to their capacity to carry physical labour. It is that type of typical stock of skills, knowledge, understanding, technical know-how, managerial skills, ethics, personal characteristics and creativity embodied in an individual which can be used to performing as a labour to produce some economics goods or values. These attributes or characteristics gained by a worker through education and experience from different relevant fields. Thus to understand the stock of human capital and economic development a case study has been conducted for covering the three districts of Assam namely- Lakhimpur, Dhemaji and Sonitpur by using primary and secondary sources of information. The primary data are collected through multi-stage random sampling of the districts. Each district are stratified into development blocks which are also further stratified into villages. All total six development blocks are randomly selected two from each districts and in the next phase, 30 villages (5 from each block) are randomly selected from 6 blocks. From these 30 sample villages in the six development blocks, households are selected on the basis of proportionate sampling method. In all the 30 villages, overall 423 households are randomly selected considering 10 percent of the each villages and data are collected through personal interviews using standard questionnaire. The study reveals that the stock of human capital has the direct relationship in economic development of Assam in general and the studies districts in particular.

Keywords: skill knowledge, education, training, human capital and economic development etc.

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