Freepressjournal : Latest Indian news,Live updates
  • Home
  • Opinion
  • India
    • Lok Sabha Elections 2019
    • Lok Sabha Elections 2019
    • Elections 2018
  • Cities
    • Mumbai
    • Pune
    • Delhi
    • Indore
    • Bhopal
    • Ujjain
  • World
  • Business
    • Budget 2019
    • Sponsored Content
    • Events Corner
  • Entertainment
    • Hollywood
    • Bollywood
    • Television
    • Regional Film News
    • Movie Reviews
    • Movie Trailers
  • Sports
    • Cricket
    • Football
  • Features
    • Infographics
    • Interviews
    • Personal Finance
    • Education
    • Lifestyle
    • Book Reviews
    • Peace of Mind
    • Weekend
    • Whats’s Up
    • Sex and Relationships
    • Food
    • Travel
  • FPJ Initiatives
    • FPJ Roundtable
    • India’s Coastline-Engine and Wheel of Economic Growth
    • IAA-The Gutenberg Galaxy Book Launch
    • Madhya Pradesh Glorious Agri-Revolution
    • India and its neighbours
    • India and the World
    • FPJ FORUM
    • Public Notice
    • The FPJ Management Scholarship
      • FPJ Management Scholarship Awards
  • Epaper

Freepressjournal : Latest Indian news,Live updates

  • Home
  • Opinion
  • India
    • Lok Sabha Elections 2019
    • Lok Sabha Elections 2019
    • Elections 2018
  • Cities
    • Mumbai
    • Pune
    • Delhi
    • Indore
    • Bhopal
    • Ujjain
  • World
  • Business
    • Budget 2019
    • Sponsored Content
    • Events Corner
  • Entertainment
    • Hollywood
    • Bollywood
    • Television
    • Regional Film News
    • Movie Reviews
    • Movie Trailers
  • Sports
    • Cricket
    • Football
  • Features
    • Infographics
    • Interviews
    • Personal Finance
    • Education
    • Lifestyle
    • Book Reviews
    • Peace of Mind
    • Weekend
    • Whats’s Up
    • Sex and Relationships
    • Food
    • Travel
  • FPJ Initiatives
    • FPJ Roundtable
    • India’s Coastline-Engine and Wheel of Economic Growth
    • IAA-The Gutenberg Galaxy Book Launch
    • Madhya Pradesh Glorious Agri-Revolution
    • India and its neighbours
    • India and the World
    • FPJ FORUM
    • Public Notice
    • The FPJ Management Scholarship
      • FPJ Management Scholarship Awards
  • Epaper

Does the budget not care for human capital?

by RN Bhaskar February 7, 2019 9:14 am
written by RN Bhaskar February 7, 2019 9:14 am
Does the budget not care for human capital?

At a time when election fever is at its peak, it is not surprising to see the tide run out. That is when you embarrassingly discover who is swimming naked. In some ways, the budget reveals a chink in the thinking of both legislators and the voting public. The focus has been on freebies, or what doles come your way, and even on grand illusions painted in the sky.

Everyone seems to have forgotten that the real wealth of the nation is development of its human capital (http://www.asiaconverge.com/2018/10/poor-hci-rankings-and-a-soaring-stockmarket/). The general public can be forgiven because it expects its leaders to think for them. But the leaders – both the elected ones, and even the ones who want to be elected – must be held accountable.

After all, they are supposed to be law-makers and architects of a new India. But they too want freebies. Look at the current budget, too. It doesn’t even talk about investments in education. You cannot have a resurgent India without investments in health and education. True, the government has talked about creating two lakh additional seats in institutes of higher learning. But where is the money to come from, after all the doles have been given away?

In fact, even the little (declining levels of education to GDP), that is spent is used so unwisely, that the government itself had to admit in the Lok Sabha on 5 March 2018 (in reply to the Unstarred Question No 1385), that the rate of unemployment among the educated was higher than among the poorly-educated. The quality of education is so poor that it leaves many of the students almost unemployable.

The government’s constant defence is that education is a state subject (http://www.asiaconverge.com/2018/05/india-literacy-levels-much-lower-than-reported/). But surely, the Centre can make the allocation of funds subject to minimum qualifying standards! Similarly, income tax exemptions for educational institutes could be made subject to minimum outcome standards as well. The truth is that the centre has been as negligent, or collusive, as the states.

That could explain why, even almost a year after dissolving the Medical Council of India (MCI), there is no move to abolish the licence raj for medical colleges. Everybody know that there is a shortage of medical college seats. Just allow any private management to set up medical colleges, charge the fees it wants provided some (say 25%) are priced lower. But ensure that tax concessions and continuation of control over the medical college would be subject to global outcome guarantees.

Errant managements, like non-performing assets must be transferred to the next most deserving management which has met the outcome guarantees. You will suddenly have many more colleges coming up with better educational standards. Is the government’s unwillingness to delicence medical colleges have something to do with the amount of capitation fees managements of such institutes charge (and possible share with others)?

As a result, you have the much vaunted Aayushman Bharat scheme, the world’s largest health insurance programme, but without enough doctors (http://www.asiaconverge.com/2018/08/ayushman-bharat-and-healthcare/). When too much of money is splurged without creating enough people qualified to implement the programme, you promote corruption and a degradation of practices. The government’s solution of allowing homeopaths and ayurveds to practice allopathy just muddies the waters.

It degrades standards on the one hand, and promotes a capitation fee for ayurved and homeopath institutes as well. If short term courses aimed at converting homeopaths and ayurveds into allopaths were a great idea, why not apply them everywhere? You could have six-month courses for converting government clerks into IAS and IPS officers. Similarly, you could have six-month courses for converting court clerks into judges.

Don’t blame the current government alone. This malaise has been promoted by successive governments. It is currently abetted by all political parties. Read the manifestoes of all parties. None has talked about taking away school management rights from promoters who do not ensure good outcomes for students. None talks about delicensing school education and higher education.

Instead, the government wants to make compulsory the registration of all hospitals with Ayushman Bharat. The schedule of charges are so horrendously low that many hospitals would have to shut down or offer shabby treatment (which in turn will mean greasing the palms of health inspectors). The contagion could spread to destroying medicare in much the same way the government has already crippled mass primary education.

It is not surprising, therefore, that India ranks very poorly on the Human Capital Index (http://www.asiaconverge.com /2018/10/poor-hci-rankings-and-a-soaring-stockmarket/) of the World Bank (see chart). In Asia, only one country does more poorly than India – that is Pakistan. What a consolation!  But then that is what happens when legislators forget to promote education and medicare. They are the bedrock of wealth generation.

 R N Bhaskar is consulting editor with FPJ.

Aayushman Bharat schemebudgetelection feverHuman Capital IndexLok sabhaMedical Council of India
previous post
India vs New Zealand 1st T20: 11 stats to know after India’s biggest defeat
next post
Bhopal: Bankers stage demo against bank merger

You may also like

West Indies vs England 2nd ODI at Barbados:...

February 21, 2019 5:35 pm

Throwback Thursday: Ab Humara Kya Hoga Industry mein!...

February 21, 2019 4:58 pm

Throwback Thursday: Not Saif Ali Khan, but these...

February 21, 2019 4:48 pm

Hardik Pandya ruled out of Australia series with...

February 21, 2019 2:58 pm

Kesari: Read the true story of Akshay Kumar’s...

February 21, 2019 2:45 pm

Neeti Mohan’s wedding outfit inspired by Anushka Sharma?...

February 21, 2019 1:44 pm

Lok Sabha elections 2019: How many seats will...

February 21, 2019 12:58 pm

Akshay Kumar’s son Aarav goes from grumpy to...

February 21, 2019 12:45 pm

India vs England Women’s 1st ODI: Mithali Raj...

February 21, 2019 12:38 pm

Fire breaks out at Saumya Tandon’s house due...

February 21, 2019 12:19 pm

Opinions

  • Tripura could become the economic powerhouse

    February 21, 2019 10:03 am
  • A perspective on current oil economics

    February 21, 2019 10:03 am
  • No party has patent on patriotic zeal

    February 21, 2019 9:50 am




Web Special

  • Mystery of Zebra stripes solved – they confuse blood-sucking parasites

    February 21, 2019 6:09 pm
  • Missing Day: 10 shayaris that beautifully captures the pain of missing someone

    February 20, 2019 1:56 am
  • Shivaji Jayanti 2019: Wishes, messages, images in Marathi to share on WhatsApp, Facebook and SMS

    February 18, 2019 8:14 pm
  • Who is Harish Salve? Meet India’s expensive lawyer fighting Kulbhushan Jadhav’s case for Re 1

    February 18, 2019 3:47 pm

Trending

  • Watch Kesari Trailer: Akshay Kumar, Parineeti Chopra in an unbelievably true story

    February 21, 2019 11:04 am
  • Thane: Leopard at Thane mall, then hotel

    February 21, 2019 6:28 am
  • When will dates of Lok Sabha elections 2019 be announced?

    February 20, 2019 11:42 am
  • Imran Khan’s remarks on Pulwama attack shallow, diversionary: Arun Jaitley

    February 20, 2019 7:55 am

Horoscope

  • Today’s Horoscope — Daily Horoscope for Thursday, February 21, 2019

    February 21, 2019 8:43 am




Agony Aunt

  • Agony Aunt: Exploring career options, but I am inducted in family business

    February 17, 2019 6:39 am

Sex & Relationship

  • Sex and the city: My honest husband confessed about incestuous relationship with his sister

    February 17, 2019 6:48 am

What is

  • Gujjar quota stir: All you need to know about the reservation protests in Rajasthan

    February 12, 2019 2:37 pm
  • Mamata Banerjee vs CBI: All you need to know about high political drama in Kolkata

    February 4, 2019 10:05 am
  • New DTH tariff regime: Check full list of channels, package rates

    January 30, 2019 9:45 am

Viral

  • 4-year-old Mahi’s amazing batting skills will make Dhoni proud; watch

    February 21, 2019 12:35 pm
  • Robo anchor: World’s first female AI news presenter is all set to go on air next month

    February 20, 2019 5:30 pm
  • Swiggy employee leaves for delivery from Rajasthan after man orders food in Chennai

    February 19, 2019 9:13 pm

About Free Press Journal

The Free Press Journal is one of the oldest English Daily newspapers from Mumbai with a heritage of more than 88 years. And yet, The Free Press Journal is a contemporary paper and rooted in current urban realities.

Facebook Twitter Linkedin Youtube Email RSS

Movie Reviews

  • Movie Review: ‘Dev’ is a pointless, boring love story

    February 18, 2019 9:37 am
  • Hum Chaar movie: Review, cast, director

    February 15, 2019 7:23 pm
  • Facebook Wala Pyar movie: Review, cast, director

    February 15, 2019 7:20 pm

Interviews

  • Godrej Memorial Hospital CEO Pravin Swamy: Prevention is key to curb healthcare cost

    February 14, 2019 9:26 am
  • Sancheti Hospital CEO Dr Parag Sancheti: We have created a niche, extended holistic treatment experience

    February 13, 2019 9:33 am
  • Edward I Altman’s Z-score gets rejuvenated for new businesses, even for India

    February 11, 2019 8:11 am
  • Home
  • About Us
  • Authors
  • Careers
  • Disclaimer
  • Privacy Policy
  • Contact Us
  • Advertise with us
  • Archive
  • RSS

@2019 - www.freepressjournal.in. All Right Reserved.