Q1: What do you mean by human capital formation?
Ans: Human capital formation refers to the process of changing a country's people into workers who are capable of creating commodities and services. Relatively unskilled individuals are given the tools they need to contribute to the economy during this process.
Q2: Name the movement started by the national literacy mission.
Ans: ‘Education for all' is a movement begun by the National Literacy Mission.
Q3: What is meant by OJT?
Ans: On-the-job training refers to the instruction given to employees by their employers at the workplace which will enable them to master their particular abilities. It increases their efficiency and productivity.
Q4: What is the literacy rate of India?
Ans: India's literacy rate is 77.7% as of 2020.
Q5: What is meant by financial capital? Explain with examples.
Ans: Financial capital is any monetary economic resource utilised largely by entrepreneurs and firms to purchase the resources required to make their goods or deliver services to the economy. Retail, corporate, and investment banking are a few examples. The most common categories include equity, debt, sweat equity etc.
Q6: What is the difference between literacy and education?
Ans: The difference between literacy and education is given below:
Q7: Write three differences between physical capital and human capital?
Ans: Three differences between physical capital and human capital are:
Q8: How does human capital formation improve quality of life?
Ans: Human capital formation is influenced by factors such as investment in education, healthcare, on-the-job training, migration, and so on. People who are literate, healthy, skilled, and trained are valuable assets to an economy. As a result, higher population quality indicates higher economic growth. Human capital formation is linked to investment in man and his growth as a creative and productive resource. Also, human capital formation will make people capable of performing skilled work, thus increasing their employability, which will further raise their standard of living and quality of life through improved income.
Q9: What do you mean by investment in education?
Ans: The investment in education is an investment in the acquisition of skills and knowledge of an individual that will boost income or bring long-term advantages such as literary appreciation. It is critical to remember that when a person performs in his chosen sector and increases his income, he also contributes to the nation's economic progress. Hence, investment in education encourages economic growth.
Q10: Discuss the educational achievements of India and what are the future prospects in education?
Ans: After the ideas were put into action, efforts were undertaken to promote education. In order to streamline education, the government implemented the Kothari Commission's recommendations under the "National Policy on Education" in 1968. The key recommendations were universal primary education and universal secondary education. Introduction of a new educational pattern, three-language formula, inclusion of regional languages in higher education, advancement of agricultural and industrial education, and adult education. The following points describe the evolution of education in India post-independence:
Q11: What is the role of human capital formation in an economy?
OR
State the importance of human capital formation in a country.
Ans: Human capital is the primary driver of economic progress. It is a source of both increasing output and technological advancement. The main distinction between industrialized and developing countries is the rate of human capital advancement.
Human capital is required in developing countries to staff new and expanding government services, to implement new land-use systems and agricultural practices, develop new modes of communication, advance industry, and strengthen the education system.
Methods for Creating Human Capital:
Human capital is inextricably linked to economic growth. The amount of money put into people's education might be used to gauge the relationship. Many nations, for example, provide free higher education to citizens. These governments recognize that the information gained through education contributes to the development of an economy and leads to economic progress.
Q12: ‘School dropouts are giving way to child labour.’ Discuss how this is a loss to human capital?
Ans: School dropout and child labor are related to the low socioeconomic position since parents want to send their children to work in order to raise household income.
Reasons for School Dropout:
Out of all the above reasons, child labour and poverty are the major ones.
The Following Economic Impact of Child Labor are Examined:
Findings at the Micro Family Level:
Findings at the Macro Family Level:
Hence, the above explanation clarifies that school dropouts adds to the child labour in the economy, and creates a loss to human capital.
Q13: What do you think about India’s current situation on gender equality?
Ans: Gender equality indicates that men and women's different behaviors, desires, and needs are evaluated, respected, and favored equally. It does not imply that men and women must become the same, but that their rights, duties, and opportunities will not be determined by whether they are born male or female.
For ages, gender inequality has been a major societal concern in India. In India, the child sex ratio among children aged 0 to 6 years is 918 girls for every 1000 boys, according to Census 2011. This figure speaks for itself, indicating the need for immediate and effective measures to address the root causes of gender disparity.
The inequality between a girl and boy begins even before they are born. In many cases, she is not allowed to be born. The girl kid is regarded as a liability. She is frequently denied fundamental rights and equitable chances to have a healthy childhood and adult life.
Girls account for 48 percent of India's overall child population, according to Census 2011, and many of them are involved in child labour, child trafficking, and child marriage. As evidenced by the following figures, the future of many females appears to be bleak:
Efforts to Modify the Situation Include the Following:
All girls deserve equal chances and an empowering environment to grow, whether it's in terms of education, health, protection, or involvement.
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