• R.SHANTHI

This study discovered that there is a strong positive relationship between human capital and economic growth, other variables used in the study Gross capital formation, and secondary School enrolment, also affect the economic growth of India positively. This study found that secondary School enrolment has the greatest impact on India’s GDP growth. This study concludes that to achieve long-term sustained economic growth policymakers should consider allocating the financial resources towards improving India's human capital, which can be achieved by increased healthcare expenditure and more funding towards education. The major findings of the study suggest human and physical capital is the major determinant of economic development in the long run, whereas, in the short run, the level of economic prosperity determines the level of human and physical capital, the volume of trade, and the fiscal space of the government. As a result, these countries have had to reprogram their debt to defer debt payments, while developed countries have become more stringent and selective in their lending. Loan approvals are controlled by powerful lenders and are not always dependent on developing countries' propensity to develop. Human capital matters more for such professionally marginalized groups since they are also susceptible to discrimination in the labor market based on other forms of capital. Policymakers in India have a wide window of opportunity for enhancing the human capital profile of the country’s future workforce.

Human Capital, physical capital, Public health expenditure, Economic growth, Out of pocket expenditure, Innovation

"HUMAN CAPITAL AND ECONOMIC GROWTH IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.2, Issue 9, page no.519-525, September 2015, Available :http://www.jetir.org/papers/JETIR1701923.pdf

"HUMAN CAPITAL AND ECONOMIC GROWTH IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.2, Issue 9, page no. pp519-525, September 2015, Available at : http://www.jetir.org/papers/JETIR1701923.pdf