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Human Capital Formation In India

Question

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Explain the role of education in attaining income equity in a country.

Solution

The labour skills of an educated person is more than that of uneducated person and the former generates more income than the latter. The contribution of an educated person to economic growth is more than that of an illiterate person. The availability of educated labour force facilitates adpaptation of new technology. Income disparities can be removed by providing education, general and technical both. An uneducated person earns less than the educated one.

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