Higher Education in India - Management Course
India's economy is projected to grow 5% in the current fiscal year, the lowest in a decade and substantially lower than the 5.7% projected earlier by the finance ministry.
Worse, the economy, presently estimated at $1.89 trillion (around Rs.100 trillion), would see growth decelerating by almost half from 9.6% in 2006-07. The attendant economic shocks, such as a spurt in excess capacities and retrenchment from the workforce, would make it difficult for the economic agents to stage a quick recovery.
In April-September, the economy grew 5.4%, indicating it may grow 4.6% in the second half of the year. Per-capita income at current prices is estimated to rise 11.7% to Rs.68,747 in 2012-13 from Rs.61,564 in the previous year but the Finance Minister P Chidambaram is optimistic of GDP growth rate of 6.1%- 6.7% for the fiscal year 2013-14.
In his budget speech 28th Feb 2013, Mr. Chidambaram has laid stress on higher growth that leads to sustainable development and inclusiveness but the core resource of the country is its people. People of a country are considered as human capital if they are productive and efficient. In other words, economic inclusion, sustainable and equitable growth can be possible by creating opportunities for higher education and skill development amongst youngsters in India. This will help them to get jobs as per their calibre and skill, enhancing their productivity, efficiency and fetching better salary in the global competitive market.
The Finance Minister P Chidambaram 28th Feb 2013 proposed a significant increase in the allocation on higher education to Rs 16, 210 crore for 2013-14 from Rs 15,458 crore in budget estimate of 2012-13 to, stating in his speech that the budget for 2013-14 had one overarching goal: creating opportunities for youth to acquire education and skills that would get them decent jobs or create self-employment with decent incomes.
Chidambaram announced that the allocation for the Ministry of Human Resource Development (MHRD) would be Rs 65,867 crore, a 17% increase from the last budget.
He also proposed to provide Rs 1,650 crore for the six AIIMS-like institutions as well as Rs 1,069 crore to the Department of Ayush.
It is worth to note that in the contemporary global scenario business management colleges in India need to frame their curriculum in a manner that meet skill demand in terms of relevance and quality: so as to ensure the matching of skills supply and demand. Skills policies need to develop skills that are relevant promote progressive and productive learning and ensure the delivery of high levels of competences and a sufficient quantity of skilled workers in a highly demanding corporate world.
Skills development policies need to build up capabilities and knowledge systems within the economy and society which induce and maintain a sustainable process of economic and social development. The developmental objective need to be focused on the strategic role of education and training policies in triggering and continuously fuelling technological change, domestic and foreign investment, diversification and competitiveness.
Worse, the economy, presently estimated at $1.89 trillion (around Rs.100 trillion), would see growth decelerating by almost half from 9.6% in 2006-07. The attendant economic shocks, such as a spurt in excess capacities and retrenchment from the workforce, would make it difficult for the economic agents to stage a quick recovery.
In April-September, the economy grew 5.4%, indicating it may grow 4.6% in the second half of the year. Per-capita income at current prices is estimated to rise 11.7% to Rs.68,747 in 2012-13 from Rs.61,564 in the previous year but the Finance Minister P Chidambaram is optimistic of GDP growth rate of 6.1%- 6.7% for the fiscal year 2013-14.
In his budget speech 28th Feb 2013, Mr. Chidambaram has laid stress on higher growth that leads to sustainable development and inclusiveness but the core resource of the country is its people. People of a country are considered as human capital if they are productive and efficient. In other words, economic inclusion, sustainable and equitable growth can be possible by creating opportunities for higher education and skill development amongst youngsters in India. This will help them to get jobs as per their calibre and skill, enhancing their productivity, efficiency and fetching better salary in the global competitive market.
The Finance Minister P Chidambaram 28th Feb 2013 proposed a significant increase in the allocation on higher education to Rs 16, 210 crore for 2013-14 from Rs 15,458 crore in budget estimate of 2012-13 to, stating in his speech that the budget for 2013-14 had one overarching goal: creating opportunities for youth to acquire education and skills that would get them decent jobs or create self-employment with decent incomes.
Chidambaram announced that the allocation for the Ministry of Human Resource Development (MHRD) would be Rs 65,867 crore, a 17% increase from the last budget.
He also proposed to provide Rs 1,650 crore for the six AIIMS-like institutions as well as Rs 1,069 crore to the Department of Ayush.
It is worth to note that in the contemporary global scenario business management colleges in India need to frame their curriculum in a manner that meet skill demand in terms of relevance and quality: so as to ensure the matching of skills supply and demand. Skills policies need to develop skills that are relevant promote progressive and productive learning and ensure the delivery of high levels of competences and a sufficient quantity of skilled workers in a highly demanding corporate world.
Skills development policies need to build up capabilities and knowledge systems within the economy and society which induce and maintain a sustainable process of economic and social development. The developmental objective need to be focused on the strategic role of education and training policies in triggering and continuously fuelling technological change, domestic and foreign investment, diversification and competitiveness.