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in Human Resource Development in Rajasthan by (42.0k points)
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Explain the problems and solutions of formation of Human Capital. Also explain the importance of education.

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Problems of formation of Human Capital in India : 

  • Rapidly increasing Population : Rapidly increasing population adversely affects the quality of human capital formation in developing countries. It reduces per capital availability of existing facilities. A large population requires huge investment in education and health. This diverts the scarce money to production of human capital at the cost of physical capital.
  • High Regional and Gender Inequality : Regional and gender inequality lowers the human development levels. 
  • Brain Drain : Migration of highly skilled labour is termed as “Brain Drain” and this adversely affects the economic development. 
  • Insufficient on-the-job-training in agriculture : Agricultural sector is being neglected, where the workers are not given on-the job training to adopt emerging new technologies. 
  • High Poverty Level : A large proportion of the population lives below the poverty line and does not have access to basic health and educational facilities. A large section of society cannot afford to get higher education or expensive medical treatment for any major disease.

Solutions for the problems of Human Capital Formation :

1. By checking the excessive population growth. 

2. The supply of labour should be in line with the demand of labour through population planning. 

3. Education should not only be ideology prioritized, but it should also be vocational prioritized. 

4. Human capital formation should be made a part of National Development Programme.

Importance of education : Education includes the ability to read and write and to understand that. The literacy rate in a developing country like India is 65%, while it is 90% to 95% in the developed countries.

Important points for the importance of Education : 

1. Education gives us a knowledge of the world around us and changes it into something better. 

2. It develops a perspective of looking at life in a positive manner in an individual. 

3. It helps people build opinions and have a positive outlook on things in life. 

4. It helps to become financially independent. 

5. Education majorly affects our understanding of the difference between right and wrong. 

6. Education helps one to become a useful member of the society. 

7. Education is vital for the economic prosperity of a nation.

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