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
a) 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.
b) 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.
c) 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.
Social capital also promotes the concept of group
based lending and helps in improving poor farmer's financial condition.
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:
i) Short Notes - Social Capital
ii) Short Essay - Social Capital & Various Factors
Contributing in the Formation.
iii) Contribution of Social Capital in overall
development.
iv) Current topic of social issues and essay.
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