Human capital formation is important for economic growth. How?

indian-economy
cbse

#1

The following points show the importance :
(i) Invention of national resources : Human capital formation helps to invent natural resources of the country. If able and efficient persons are scientists and engineers of the country then it will be possible to find out available natural resources.
(ii) Optimum use of resources : The study of all the resources of the country is possible through human capital formation. It helps in expansion and optimum utilization of resources.
(iii) Improvement in technique of production :
Human capital formation can improve the technique of production. It can promote the trade also.
(iv) Increase in production : Human capital for-mation increases the production. Its quality and quantity can also be raised.