Social Capital and Rural Development

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Definition

The term social capital refers to the various norms, values and cultural aspects which govern the people living in a society and the institutions they are attached with. It is a kind of bonding that holds the societies and communities together and without which there can be no economic growth as per the desired expectations.

Social Capital is considered as one of the most important capital available to the community for achieving developmental goals. Thus if the society successfully builds up its social capital, then it can utilize other forms of capital such as human capital, financial capital and environmental capital in an efficient way, thus mobilizing the overall pace of the economic development.

Factors Contributing in the Formation of Social Capital

Family:

Being the basic unit of any community, family plays an important role as the source of economic and social well being of its members. Thus, it is said to be the first building block in the formation of social capital for the larger society.

Communities:

Communities play a major role in providing a platform to the people in a society to interact among them and to generate social capital while working towards a common goal. This platform is especially very important for the poor by giving a value addition to the human and physical capital.

Ethnicity:

Ethnic relations are an important factor in the formation of social capital. Whether it is the case of immigration, micro-enterprise development, tribal nepotism or racial conflict, ethnic ties are a clear-cut example of sharing of values & cultural bonding that contribute in the formation of social capital

Contribution of social capital in overall rural development.

Rural Development:: Agricultural activities being the main source of rural livelihood are greatly influenced by social capital. Since agricultural activities involve a lot of participation and collective action by the farmers community, such as the management of common resources, providing information about new technologies, adequate use of water resources, pest management strategies etc, therefore the social capital helps in regulating the overall agricultural activities very smoothly while ensuring the balanced use of the available resources and increasing the overall productivity.
Women Empowerment:: It is an another major area where social capital plays a vital role. The women self help groups have played significant role in overall development of the rural women, by providing them various opportunities of becoming self dependent in economic terms & getting their respected status back in the society. It has also enabled them to participate in local self government and becoming the face of the community.

Importance from the examination point of view:

Short Notes - Social Capital
Short Essay - Social Capital & Various Factors Contributing in the Formation.
Contribution of Social Capital in overall development.
Current topic of social issues and essay.

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