Human Capital Formation in India | Latest updated notes |
HUMAN CAPITAL FORMATION IN INDIA It refers to the stock of skills and knowledge gained by a worker through education and experience to perform a labour so as to produce economic va lue. SOURCES OF HUMAN CAPITAL 1) Investment in Education The best source for the formation of human capital is education. The goverment must spend on education policy and the guardians must send their child in school atleast for their primary education. As this is also the fundamental right of everyone to pursue primary education according to Article 21 of the Indian Constitution. 2) Investment in Health Money should spent on : Preventive medicine, Curative medicine, Social medicine, Clean water & Sanitation. 3) On the Job Training To enchance labour productivity job training can be provided in 2 ways : (i) Trained itself within the firm under the supervision of a skilled worker. (ii) May sent for off-campus training. 4) Migr...