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Flashcards in CH 8 HUMAN CAPITAL Deck (5)
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What is human capitL

Human capital refers to the stock of skill and expertise of a nation at a point of time


Sources of Human capital formation

Expenditures of education
Expenditure on health
On the job training
Study programmers for adults


Role of Human Capital Formation

Increase productivity of physical capital
Innovative skills
Higher rate of participation and equality


Problems of Human capital formation

Rising population
Brain drain
Insufficient on the job training in primary sector
Low academic standards


Growth of educational sector in India

Expansion of general education (nearly 500 percent growth)
Elementary education ( 2 lakh in 1950 to 12 lakh in 2015)
Secondary and senior secondary education (7000 in 1950 to 2.5 lakh in 2015)
Higher education (27 universities in 1950 to 800 in 2015)
Vocationalisation of secondary education (job while studying)
Adult and female education