1Assistant Professor, Dept. of Economics, DAVCC, Faridabad (Haryana)
2Assistant Professor, Dept. of Economics, DAVCC, Faridabad (Haryana)
3Research Scholar Dept. of Economic, RBS College, Agra, Uttar Pradesh
The present paper aims to investigate the connection between human development indicators (HDI) and the economic performance of India.
This study examines the impact of economic advancement on various human resource development indicators, such as education, life expectancy (LE), and per capita income, in India. It employs the neo-classical Solow production function and multiple linear regression models on time-series data from 2000 to 2019 to analyze and examine the connection between HDI indicators and economic growth. Life expectancy is used as a proxy for human capital.
The findings indicate a significant positive correlation between indicators of human resource development and economic growth in India. Higher levels of education, life expectancy, and per-capita GDP growth rates are all positively linked. There is a strong positive correlation between India's economic growth and life expectancy. Additionally, factors like secondary enrollment and per capita income have a favorable effect on economic growth. The study's key finding is that life expectancy has the most influence on India's GDP growth.
To achieve long-term and sustained economic growth in India, the paper concludes with policy implications for promoting human resource development. It suggests that policy makers should concentrate on enhancing India's human capital through increased health care spending and more funding for education. With the right policies, India's enormous population can be leveraged to boost economic progress rather than being viewed as a barrier.
Economic Growth, Secondary School Enrollment, Life Expectancy, Per Capita Income
