NCERT Solutions for Class 11 Economics Chapter 4 - Human Capital Formation In India

1. What are the two major sources of human capital in a country? 

Ans: Human capital is a nation's stock of skill and expertise at a given point in time. Individual efficiency and productivity are increased by quality-enhanced human capital, which enhances a country's aggregate production and economic well-being. As a result, the value of investing in human capital enrichment is enormous and long-term. The two primary methods for developing human capital are as follows: 

• Investment in the Educational Sector: Education not only enhances the standard and quality of living, but it also pushes people to adopt a more modern mentality. Furthermore, education boosts a nation's workforce's productive potential and productivity. Furthermore, education promotes the acceptability of contemporary technology while also allowing a primitive economy to break free from the constraints of tradition and backwardness. An investment in the educational sector has two advantages. The value of education extends beyond simply educating individuals. but also in assisting a developing economy to handle several but interconnected macroeconomic problems such as poverty, income inequality, population, investments, and resource underutilization. As a result, investment in education must be prioritized in a developing country because it leads to qualitative improvements in human capital.

• Investment in the Health Sector: There is a proverb that says, "The greatest wealth is health." A country's wealth can be increased through the efforts of a healthy workforce. Investment in the health-care sector boosts a country's workforce's efficiency, efficacy, and productivity. Good health and medical services not only extend life expectancy but also improve the quality and condition of living. Investment in the health sector assures a steady supply of healthy workers. Some of the most common expenditures in the health sector are for better medical facilities, easier access to life-saving pharmaceuticals, common immunization, medical information dissemination, provision of sufficient sanitation and clean drinking water, and so on. Thus, health-care spending is critical in developing and retaining a productive workforce, which leads to the development of quality human capital in a country. 

2. What are the indicators of educational achievement in a country? 

Ans: Education provides a person with a wide range of skills. A well-educated individual is more skilled and productive than an illiterate individual. As a result, the former has a greater earning capacity than the latter. As a result, an individual's income earning capacity is the primary indication of educational accomplishment. Aside from this, there are other critical indications whose breadth is considerably broader. These are: 

• Adult Literacy Rate: This rate represents the proportion of the literate adult population aged 15 and up. Literacy in this meaning refers exclusively to the ability to read and write. It gives a gauge of the adult population's stock of literate people. This rate is given in percentage form. The higher the percentage of adult literacy, the higher the educational attainment in a country. This rate is the most essential metric for a country since it represents the percentage of the population that is able to engage in the country's economic activity.

• Youth Literacy Rate: This rate is the proportion of literate people between the ages of 15 and 24 who can read and write. It denotes the proportion of the youth population who are literate. This is an essential indication of a country's educational achievement. This is due to the fact that the bulk of a country's people are unable to complete their schooling by this age. As a result, the higher a country's youth literacy rate, the higher its educational attainment. 

• Primary Education Completion Rate: This rate represents the proportion of children who have completed their final year of primary school. Students in primary school range in age from 6 to 14 years old and are in class groups 1 to 8. It comprises fundamental skills in reading, writing, and mathematics, as well as a grasp of history, geography, natural sciences, social sciences, art, and music. Lower primary school completion rates result in lower youth literacy rates and, as a result, lower adult literacy rates. 

3. Why do we observe regional differences in educational attainment in India? 

Ans India is a country with many different cultures, religions, and communities. Every location has its unique set of traditions and customs. Furthermore, as we travel from one state to another, we notice many distinctions in terms of language, habit, culture, need, climate, and so on. Regional inequalities in educational attainment occur in our country as a result of these differences. There is a disparity in the educational pattern across India. Some regions lack educational facilities, while others place an overwhelming emphasis on education. States such as Bihar, Rajasthan, Uttar Pradesh, and Arunachal Pradesh, for example, are educationally disadvantaged, but states such as Kerala, Tamil Nadu, and Uttaranchal have higher literacy rates. . In general, education is given less priority in states where there are few job prospects and the standard of life is near to the subsistence level. People in such states work in the agricultural or informal sectors, which have little to do with schooling. The neglect of education in these areas is mostly due to the low standard of living and poverty. These people cannot afford to send their children to school and instead work in the fields or in the informal economy. Furthermore, male children in India have a skewed access to schooling as compared to female youngsters. Aside from the aforementioned aspect, other factors such as custom, climate, and so on explain regional variances in educational attainment.

4. Bring out the differences between human capital and human development. 

Ans: Human capital and human development are related but not identical ideas. While human capital refers to a country's store of human talents and expertise at a certain point in time, human development refers to the holistic development and well-being of a country's human capital. On the one hand, human capital views education and health as a means (skills and knowledge) to increase productive capacity, whereas human development views humans as an end in itself. The significant gap between human capital and human development is related to a difference in investment motivation. While human capital focuses on investments in education and health to boost workforce productivity and efficiency, human development focuses on investments in education and health to improve human capital's overall well-being, standard of living, and quality of life. If an investment fails to boost efficiency and income earning potential, human capital considers it unproductive. However, human development proponents support such investments, despite the fact that they have failed to increase production and efficiency. Human development safeguards everyone's right to an education and to live a healthy life. 

5. How is human development a broader term as compared to human capital? 

Ans: Human development is a broader phrase than human capital since human capital is a means to an end, whereas human development is a goal in and of itself. Human capital believes education and health to be means of transforming a person into a good productive person. Human capital is a means to an end, where means denotes talents used in the manufacturing process and end denotes the resulting improvement in productivity. Higher levels of output can be attained by making full use of human capital.

Human development, on the other hand, is an end in itself that refers to the holistic development of persons. Only by obtaining a good education and maintaining excellent health can development be possible. As a result, education and health are the two most important aspects of human development. Human development occurs when the majority of the population in an economy is educated and healthy. Thus, the end represents an individual's development through education and health. As a result, we might conclude that human development is a larger concept than human capital. 

6. What factors contribute to human capital formation? 

Ans: Human capital formation is the result of investments in education, health, transportation and communication, technological know-how, on-the-job training, and migration. These elements are discussed further below. 

• Education: Education not only enhances the standard and quality of living, but it also pushes individuals to adopt current ideas. Education raises the acceptability of contemporary technology while also allowing a primitive economy to break free from the chains of tradition and backwardness. An investment in the educational sector has two advantages. It not only enhances income generating ability but also minimizes income skewed distribution, resulting in an equal society. Investment in the educational sector yields long-term benefits. It not only helps a country's current economic situation, but it also improves its future chances. Education is important not only for educating individuals, but also for assisting an underdeveloped economy in resolving many yet interconnected macroeconomic problems such as poverty, income inequality, population, investments, and resource underutilization. As a result, a country's investment in education must be prioritized.

• Health: There is a proverb that says, "The greatest wealth is health." A country's wealth can be increased through the efforts of a healthy workforce. Investment in the health sector boosts a country's workforce's efficiency, efficacy, and productivity. In comparison to a sick person, a healthy person can work more efficiently and so contribute substantially more to a country's GDP. Good health and medical facilities not only increase life expectancy but also improve quality of life and living standards. Some of the most common expenditures in the health sector are for better medical facilities, easier access to life-saving pharmaceuticals, common immunization, medical information dissemination, provision of sufficient sanitation and clean drinking water, and so on. As a result, health-care spending is critical in developing and sustaining a productive workforce. 

• On-the-Job Training: The act of learning the skills, information, and competencies required to do a specific profession efficiently and effectively is referred to as training. On-the-job training is the most effective type of training for a trainee since it teaches him technical skills and knowledge on the job. In this sort of training, a trainee is assisted (or trained hands-on) by a trainer (typically an experienced employee) while performing the task. This allows the trainee to not only learn theoretical and practical skills at the same time, but also to benefit from his trainer's experiences, increasing his efficiency and production. This is the most frequent sort of training program because the benefits in terms of enhanced production far outweigh the costs. Thus, such training investments improve the quality of human capital by increasing productivity, efficiency, and income earning potential. 

• Migration: The movement of people from poor or emerging countries to industrialized countries in quest of better opportunities is referred to as migration. Migration contributes to human capital building by allowing individuals to use inactive or underdeveloped abilities. The cost of migration includes the cost of transportation as well as the cost of living in the relocated location. The cost of migrating is typically very high due to the high cost of transportation and the high cost of living in industrialized countries. People continue to migrate in quest of better employment prospects and higher pay. Human capital migration assists developing countries in acquiring technological skills, labor-saving technologies, and efficient means of executing activities. These talents and know-how are conveyed by migrated people to their home country, which not only contributes to economic growth and development but also improves the home country's human capital. 

• Information: The degree of availability of jobs, salary, and admissions-related information are all relevant considerations. 

7. How government organizations facilitate the functioning of schools and hospitals in India. 

Ans: The following organizations are under the control of the Indian government when it comes to schools and hospitals:

NCERT (National Council of Education Research and Training): The organization is in charge of developing textbooks up to and including the 12th grade.

• UGC (University Grants Commission): This organization is the primary source of funding for university education. It also enforces higher education standards and regulations.

• AICTE (All India Council for Technical Education): It is in charge of enforcing rules and regulations governing technical engineering education in the country. 

• ICMR (Indian Council for Medical Research): This organization develops the norms and regulations governing education and research in the health industry. v.National Institute of Health and Family Welfare: The National Institute of Health and Family Welfare is in charge of promoting health and family welfare programs.

8. Education is considered to be an important input for the development of a nation. How? 

Ans: Education is seen as a significant input for a nation's growth since the proportion of educated individuals in a country determines the country's progress. The following points explain the importance of education in a nation's economic development: 

• Imparts Quality Skills and Knowledge: Education provides people with high-quality skills, increasing their productivity. As a result, it increases people's money generating capacity and opportunities. Furthermore, it enables human capital to make the most use of the existing physical capital. 

• Develops Mental Abilities: Education provides people with high-quality skills, increasing their productivity. As a result, it increases people's money generating capacity and opportunities. Furthermore, it enables human capital to make the most use of the existing physical capital.

• Acceptability of Modernisation: Education provides people with high-quality skills, increasing their productivity. As a result, it increases people's money generating capacity and opportunities. Furthermore, it enables human capital to make the most use of the existing physical capital.

• Eradicates Skewed Income Distribution: Education not only enhances income earning power but also reduces income inequality, resulting in the formation of an equitable society.

• Raises Standard and Quality of Living: Education increases people's income generating potential, enhancing their level of living and improving their quality of life.

• Increases the Participation Rate: It promotes economic development by boosting people's participation in the growth and development process. 

• One Solution for Other Economic Problems: Education is important not only for educating individuals, but also for assisting an underdeveloped economy in resolving many yet interconnected macroeconomic problems such as poverty, income inequality, population, investments, and resource underutilization. 

9. Discuss the following as a source of human capital formation (i) Health infrastructure (ii) Expenditure on migration. 

Ans: 

• Health infrastructure: There is a proverb that says, "The greatest wealth is health." A country's wealth can be increased through the efforts of a healthy workforce. Investment in the health sector boosts a country's workforce's efficiency, efficacy, and productivity. In comparison to a sick person, a healthy person can work more efficiently and so contribute substantially more to the country's GDP. Investing in the health sector assures a steady supply of healthy workers. Some of the most common expenditures in the health sector are for better medical facilities, easier access to life-saving pharmaceuticals, common immunization, medical information dissemination, provision of sufficient sanitation and clean drinking water, and so on. As a result, health-care spending is critical in developing and sustaining a productive workforce. 

• Expenditure on migration: The movement of people from poor or emerging countries to industrialized countries in quest of better opportunities is referred to as migration. Migration contributes to human capital building by allowing individuals to use inactive or underdeveloped abilities. The cost of migration includes the cost of transportation as well as the cost of living in the relocated location. The cost of migrating is typically very high due to the high cost of transportation and the high cost of living in industrialized countries. People continue to migrate in quest of better employment prospects and higher pay. Human capital migration assists developing countries in acquiring technological skills, labor-saving technologies, and efficient means of executing activities. These talents and know-how are conveyed by migrated people to their home country, which not only contributes to economic growth and development but also improves the home country's human capital. If the benefits of migration outweigh the costs of migration, it can be concluded that migration leads to improved utilization of human capital capabilities.

10. Establish the need for acquiring information relating to health and education expenditure for the effective utilization of human resources. 

Ans: The degree of availability of employment, salary, and admissions-related information is critical in determining human capital. The availability of job and admissions information not only assists students in making the best decision based on their interests, but it also contributes to the effective utilization of human abilities and expertise. Employment News (Rozgar Samachar), Employment Exchanges, numerous TV programs, and government and non-government websites are some of the key sources of information on jobs, eligibility criteria, vacancies, and salary. The investment on medical information and health awareness determines people's health. People are often hesitant to choose various health measures due to a lack of adequate knowledge and information. People, for example, knew relatively little about polio and its vaccination a few years ago. People are now fully aware about polio thanks to the ongoing efforts of various government and non-government organizations as part of the Pulse Polio Immunization Program. As a result of the continual advertising and different awareness initiatives, this program has achieved public awareness. As a result, the investment on information dissemination (education and health) impacts the effectiveness and efficacy of human capital. 

11. How does investment in human capital contribute to growth? 

Ans: Human capital and economic growth are inextricably linked. Human capital formation hastens economic growth, while economic growth hastens human capital formation. The following points can help to explain the correlation between economic growth and human capital formation. 

• Increase in the Productivity of Physical Capital: The stock of manufactured means of production is referred to as physical capital. It is made up of machines, manufacturing plants, tools, and equipment. Skilled personnel manage productive assets in such a way that they not only increase productivity but also contribute to an efficient use of physical capital. When productivity rises, the rate of growth accelerates naturally.

• Innovation of Skills: A well-educated individual is more productive and skilled. He has the capacity to learn new skills and practices that will make him more effective and productive. The bigger the quantity of talented and trained workers, the greater the likelihood of innovations. 

• High Participation Rate and Equality: Human capital with greater technical skills and inventive ability is more productive and efficient. The greater the rate of participation, the greater the degree of social and economic equality across the country. As a result, we might argue that human capital and economic growth are inextricably linked. Human capital formation increases economic growth, whereas economic growth also facilitates human capital formation.

12. There is a downward trend in inequality world-wide with a rise in the average education levels. Comment. 

Ans: In theory, there is a negative link between educational attainment and the degree of inequality. In recent decades, this relationship has become virtually established all across the world. Education not only transmits technical abilities but also increases a person's productivity. A well-educated person with increased productivity and efficiency has a larger earning potential. The increased earning power and acceptance of contemporary techniques raises the standard and quality of living. Income distribution has become less lopsided, and the gap between affluent and poor has gradually narrowed. Gradually, the value of education is becoming more widely recognized around the world, and as a result, governments in various nations have increased their investments in the education sector. With an increase in average education levels, not only inequality but also other problems like poverty, underutilization of resources, and lower standards and quality of life have been reduced. 

13. Examine the role of education in the economic development of a nation. 

Ans: Economic development is defined as a growth in a country's level of production of goods and services combined with an improvement in the quality of life. The following points illustrate the role of education in a country's economic development:

• Imparts Quality Skills and Knowledge: Education provides people with high-quality skills, which increases their productivity. As a result, it increases people's earning potential and prospects. Furthermore, it enables human capital to make the most use of the existing physical capital.

• Develops Mental Abilities: People's mental capacities are developed through education, which allows them to make sensible and intellectual decisions. Education produces good people by instilling principles in them.

• Acceptability of Modernisation: A nation's educated people is more accepting of modernisation and new technology. This not only helps the economy flourish, but it also allows a primitive economy to break free from the bonds of tradition and backwardness.

• Eradicates Skewed Income Distribution: Education not only enhances money generating power, but it also minimizes skewed income distribution and so builds an equal society.

• Raises Standard and Quality of Living: Education not only enhances money generating power, but it also minimizes skewed income distribution and so builds an equal society.

• Increases the Participation Rate: It promotes economic development by boosting people's participation in the growth and development process. vii. A Possible Solution to Other Economic Issues: The value of education extends beyond simply educating people to assisting an underdeveloped economy in addressing a variety of interconnected macroeconomic issues such as poverty, income disparity, population, and investment. 

14. Explain how investment in education stimulates economic growth. 

Ans: Economic growth is defined as a rise in a country's level of output of goods and services (national income) during a given time period. Higher levels of investment in the education sector would result in a stronger proportion of educated people working and participating in economic activities, resulting in higher economic growth. The different methods in which education investment fosters economic growth are as follows:

• Imparts Quality Skills and Knowledge: Education provides people with high-quality skills, which increases their productivity. As a result, it increases people's money generating capacity and opportunities. Furthermore, it enables human capital to make the most use of the existing physical capital.

• Develops Mental Abilities: People's mental capacities are developed through education, which allows them to make sensible and intellectual decisions. Education produces good people by instilling principles in them. 

• Acceptability of Modernisation: A nation's educated people is more accepting of modernisation and new technology. This not only helps the economy flourish, but it also allows a primitive economy to break free from the bonds of tradition and backwardness.

• Eradicates Skewed Income Distribution: Education not only enhances income generating power but also minimizes income skewed distribution, forming an equal society.

• Raises Standard and Quality of Living: Education increases people's income generating potential, raising their level of living and improving their quality of life.

• Increases the Participation Rate: It promotes economic development by boosting people's participation in the growth and development process. 

• One Solution for Other Economic Problems: Education is important not only for educating people, but also for assisting an underdeveloped economy in resolving many but interrelated macroeconomic problems such as poverty, income disparity, population, investments, and resource underutilization. 

15. Bring out the need for on-the-job-training for a person. 

Ans: The act of learning the skills, information, and competencies required to do a specific profession efficiently and effectively is referred to as training. On-the-job training is the most effective type of training for a trainee since it teaches him technical skills and knowledge on the job. In this sort of training, a trainee is assisted (or trained hands-on) by a trainer (typically an experienced employee) while performing the task. This allows the trainee to not only study theoretical and practical skills at the same time, but also to benefit from his trainer's experiences, which can boost his efficiency and production. This is the most frequent sort of training program because the benefits in terms of enhanced production far outweigh the costs. Thus, such training investments improve the quality of human capital by increasing productivity, efficiency, and income earning potential. 

The following points emphasize the importance of on-the-job training:

• On-the-job training is the most prevalent way of training new employees or freshmen.

• This style of training allows the pupil to learn both theoretical and practical abilities at the same time.

• It allows a person to internalize an organization's beliefs, norms, and standards within the organization because the employee sees them in everyday activity.

• Since it is done under the supervision of a professional or experienced worker, the trainee can benefit from the supervisor's experiences. 

• It is a cost-effective strategy because the advantages of increased production outweigh the costs of such training.

16. Trace the relationship between human capital and economic growth. 

Ans: Human capital and economic growth are inextricably linked. Human capital formation hastens economic growth, while economic growth hastens human capital formation. The following points can help to explain the correlation between economic growth and human capital formation. 

• Increase in the Productivity of Physical Capital: The stock of manufactured means of production is referred to as physical capital. It is made up of machines, manufacturing plants, tools, and equipment. Skilled personnel manage productive assets in such a way that they not only increase productivity but also contribute to an efficient use of physical capital. When productivity rises, the rate of growth accelerates naturally. 

• Innovation of Skills: A well-educated individual is more productive and skilled. He has the opportunity to learn new talents and develop new procedures that will make him more efficient and productive. The bigger the quantity of talented and trained workers, the greater the likelihood of innovation. 

• High Participation Rate and Equality: Human capital that possesses advanced technical skills and the ability to innovate is more productive and efficient. This increases the number of people who participate in the process of economic growth and development. The greater the rate of participation, the greater the degree of social and economic equality across the country.

As a result, we might argue that human capital and economic growth are inextricably linked. Human capital formation hastens economic growth, while economic growth hastens human capital formation. 

17. Discuss the need for promoting women's education in India. 

Ans: Access to education has traditionally been skewed in favor of India's male population. Women have historically been underserved in the field of education. Women's weaker and lower status in India can be ascribed to a lack of education. Women have long been regarded as a liability in the household. Such ideas and customs have profound roots in traditional beliefs and customs. Women's economic and social roles must not be overlooked in order to achieve total economic development and growth. People have realized the value of female education as educational levels and modernization have increased. In order to empower women, the importance of female education should be emphasized in India. The following are some key arguments in favor of promoting women's education:

• Women's education is critical for increasing their economic independence and viability.

• Women's education is critical for improving women's social and moral standing.

• It is important in maintaining a healthy fertility rate.

• Education for women can improve health care for women and children.

• An educated lady can instill moral principles in her children and provide them with a high-quality education.

18. Argue in favor of the need for different forms of government intervention in education and health sectors. 

Ans: As India is a federal country, all three levels of government spend money on education and health. In India, both public and private institutions provide services in the education and health sectors. While private institutions are driven by the market and profit incentive, public institutions are driven by the primary goal of providing services and increasing human capital. Because the cost of education and health care given by private institutions is higher, the bulk of the population finds it difficult to access these services due to economic inability. As a result, it is critical for the government to offer quality education and health care to this segment of the population. Furthermore, private institutions are unable to reach out to isolated and rural areas where individuals lack motivation to pursue education and health care. In this situation, the government's responsibility in encouraging them and making them aware of the benefits of education and health cannot be substituted. Furthermore, there are some underprivileged groups of the population, such as ST, SC, and OBC, whose interests can only be preserved by government intervention. Furthermore, as individual customers, people lack accurate information about the quality of services and their associated costs. People are frequently exploited as a result of this. As a result, government action in the health and education sectors is required to improve the quality of human capital.

19. What are the main problems of human capital formation in India? 

Ans: India is confronted with a slew of human capital formation issues. These are the following:

• Rising Population: As the population grows, so does the demand on scarce resources. In other words, it reduces the availability of facilities such as housing, sanitation, education, and electricity supply per person. As a result, the strain on these facilities reduces the quality of life and limits one's ability to learn specialized skills and knowledge. 

• Brain Drain: People relocate from one location to another in quest of better work possibilities and higher pay. This poses a significant risk to the process of human capital building. It results in the loss of high-caliber individuals such as doctors, engineers, and others who are scarce in developing countries. The cost of such a loss of high-quality human capital is extremely expensive. 

• Improper Manpower Planning: India lacks in efficient manpower planning. There have been no major efforts to maintain the rising labor force's demand-supply balance. So, it leads to the wastage and misappropriation of human skills. 

• Low Academic Standards: Regardless of deficiencies in their standards, many educational institutions are popping up in order to disseminate education. These institutions provide poor quality education and skills, which leads to a decrease in productivity and efficiency. This is one of the major impediments to the development of high-quality human capital. 

20. In your view, is it essential for the government to regulate the fee structure in education and health care institutions? If so, why? 

Ans: The education and health sectors are the two primary sectors responsible for the development of high-quality human capital. Almost all less developed countries place a premium on the development of these two sectors. In India, spending on education and health are carried out by all three levels of government as well as by private institutions. While commercial institutions are driven by market and profit motives, public institutions are driven by the primary goal of providing services and increasing human capital. Because the cost of education and health care given by private institutions is higher, the bulk of the population finds it difficult to access these services due to financial constraints. As a result, it is critical that the government provide adequate education and health care to this segment of the population. Furthermore, because the Indian constitution recognizes the right to free education and medical care as a fundamental right of citizens, it is the government's responsibility to offer education and health care to all. Furthermore, private institutions are unable to reach out to isolated and rural areas where individuals lack motivation to pursue education and health care. In this setting, the government's job is to encourage them and make them aware of the benefits of education and health care. Furthermore, there are some underprivileged groups of people, such as ST, SC, and OBC, whose interests can only be defended by the interference of the government. Furthermore, as individual customers, people lack accurate information about the quality of services and their associated costs. People are frequently exploited as a result of this. As a result, government action in the health and education sectors to regulate fee structures is required in order to improve the quality of human capital.

The Concept of Human Capital Formation

There has been an increment in the number of people, who are critical to the political and economic growth of a country. Every nation relies on its economy to be noticed in the world. After globalization in India, people have acquired the skills, education and experience required to survive in the industries. The mobility of Human Capital Formation is restricted by its culture, along with its nationality. It depends on various factors such as expenses on health, education, training and migration. Not every skilled person lives in the required location, they need to migrate from their hometowns.

(image will be uploaded soon)

Human Capital Formation in India

Over the past few decades, India has progressed and evolved with remarkable records. Enterprises, politics, sports and technology have blossomed with the best possible skills. There have been discussions about India getting the revolutionary transformation with the use of Information technology. The prime minister has been promoting digitalization for a while now, which clearly shows the direction we are leading. There have been occasions of villages benefiting from e-mails and availing governance facilities. It aims to convert human resources into assets.

• Physical Capital: Input materials like gadgets, vehicles, tools, machines used to build physical structures like buildings, bridges are included in Physical Capital.

• Human Capital: Subject knowledge, expertise, ability to resolve problems, experience and skill set of human resources of a nation in an instant is Human Capital.

Everyday Problems of Human Capital Formation

Various problems constitute Human Capital Formation. They are as follows:

• Uncontrolled Population Growth: The concept of family planning has not reached remote places and some cultures in India. As a result, the uncontrolled growth of population has caused higher rates of illiteracy and unemployment.

• Gender Inequality: There are still many places where women are discriminated against based on their gender, which poses yet another problem.

• Lack of on-Job Training: In many sectors, employees do not receive specialized training to handle heavy equipment.

• High Poverty Levels: A majority of people are below the poverty line in India. Therefore, it is very hard for them to attain primary health and education in the country.

• Regional Problems: India is a country with many cultures. Not every facility is available in the entire nation. There are specific hubs for every industry. For steel-based industries, Chhota Nagpur plateau is suited.

Solved Example: Why Should Students and Parents Choose Vedantu?

Vedantu is an experienced e-learning platform that understands the concerns of every student. Every subject needs to be explained, and our expert teachers are very capable of doing so. Our excellence has satisfied most of our users and we progress further with every passing minute to provide a hassle-free and great learning experience.

Important Study Material Links for Class 11 Economics Chapter 4

Fun Fact

Government organizations have played a major role in the functioning of hospitals and educational institutions. Both the fields have a long development period and require a very large funding to cover different locations including many cultures. India was placed at 103rd position out of 130 nations, according to the Human Capital report released by the World Economic Forum. Norway was placed in the first position. The forum measures the investments of a nation in the development of its talent across various styles of life. These are judged upon different parameters such as employment and education.

NCERT Solutions for Class 11 Economics Other Chapter-Wise Links - Download the FREE PDF

Related Important Links for Class 11 Economics