(1) education increases the efficiency of worker (2) education is the main factor of social and economic development. (3) Education helps in increasing the mental horizons of the people and is a must to develop human personality. (4) Education enhances the national income, natural richness and and increases the efficiency of governance.

Role of Education in Human Capital Formation
Education is a fundamental component of human capital formation, which refers to the skills, knowledge, and abilities that individuals possess, contributing to their productivity and economic growth.
Enhancement of Skills
- Education equips individuals with essential skills necessary for various job roles.
- It fosters critical thinking, problem-solving, and technical skills, enhancing employability.
Knowledge Acquisition
- Formal education provides in-depth knowledge in specific fields, helping individuals understand complex concepts.
- Lifelong learning through education keeps individuals updated with industry trends and advancements.
Improvement of Productivity
- Educated individuals tend to be more productive in their work, contributing to higher economic output.
- Enhanced productivity leads to increased income levels and improved living standards.
Social Development
- Education plays a vital role in promoting social equity and reducing poverty.
- It empowers individuals, enabling them to make informed decisions and participate actively in society.
Innovation and Economic Growth
- A well-educated workforce drives innovation, leading to new ideas and technologies.
- This innovation is crucial for economic growth and competitiveness in the global market.
Health Benefits
- Higher education levels correlate with better health outcomes, leading to reduced healthcare costs.
- Educated individuals are more likely to make healthier lifestyle choices.
In conclusion, education is a critical driver of human capital formation, influencing not only individual success but also broader economic and social development. Investing in education yields substantial returns for individuals and society as a whole.