ECONOMIC AND SOCIAL IMPACT OF BRAIN DRAIN IN INDIA

Abstract

Brain Drain is “the movement of highly skilled and qualified people to a country where they can work in better conditions and earn more money”. A brain drain is frequently considered as an economic expense, since emigrants usually take with them the value of their higher education and training subsidized by the Government. The Government of India estimated that there are 30 million Indian human resources who are working for the industrialized countries are well educated and skilled. This study mainly focuses on socio-economic factors of brain drain in Indian context. Also the concern raised in this paper is that the valuable human capital in high end professional institutions like IIT's, AIIMS and IIM's are generated with the money collected from the tax payers but it is very unfortunate that these professionals and skilled human resource are permitted to work for the development of developed countries. India is a developing country and it is becoming a major supply of human capital for the established economies. Brain drain may have modest good impact on our economy in the short run but being a growing country, India cannot afford departure of highly valuable people and there is need to evaluate our long term higher education plan in this area.