Question

what is the human capital formation

Answer 1

When the existing human resources get further developed when more education is provided to them and they become healthier, then human capital formation takes place. it adds value to the national income of a country.
The human capital formation indicates, “the process of acquiring and increasing the number of persons who have the skills, education and experience which are critical for the economic and the political development of the country. Human capital formation is thus associated with investment in man and his development as a creative and productive resource .”


In order to develop various sectors of the economy, a country should introduce manpower planning for the development of its human resources. Manpower planning indicates planning of human resources for meeting the development needs of the economy.

Just for proper utilisation of manpower resources, a country should impart proper education to its population and train its labour force in technology, engineering, management, medicine and in many other fields connected with the development of various sectors of the economy.

The most important factor in human capital formation is the development of top skills. As this skill formation is a time consuming process, thus the entire process of human resource development demands a long-term policy.



THUMBS UP PLZ!!!

Answer 2

Human capital formation is the process of transforming the people in a country into workers who are capable of producing goods and services. During this process, relatively unskilled individuals are given the tools they need to contribute to the economy.

Hope this will help you
Please Brainliest it