Human Capital Formation In India
Education is considered an important input for the development of a nation. How?
(i) Education is sought not only as it confers higher earning capacity to the people but also for its other highly valued benefits.
(ii) It gives one a better social standing and pride.
(iii) It enables one to make better choices in life.
(iv) It provides knowledge to understand the changes taking place in society.
(v) It also stimulates innovations.
(vi) The availability of educated labour force facilitates adaptations of new technologies.
(vii) Economists have stressed the need for expanding educational opportunities in a nation as it accelerates the development process.
(viii) Education enables the society to use new means of technology so that the rate of economic growth can be accelerated. Consequently, standard of living can be made high.
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What do you mean by the term 'sources of human capital formation?'
A professor earns a higher wage than a peon in the college. Why?
What is human developments?
What is 'on the job training'?
Give the different forms of 'on the job training'.
Why is expenditure regarding on-the-job training a source of human capital formation?
What is investment in education?
Mention on the main forms of development of human resources.
What do you mean by health?
What is social infrastructure?
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