ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Investing in people through nutrition, health care, quality education, jobs and skills helps develop human capital, and this is key to ending extreme poverty and creating more inclusive societies.

Detailed explanation-2: -Health is a very important source for human capital formation. A healthy person will always be more productive and contribute to the nation than an unhealthy person. Expenditure on health will directly supply the nation with a healthy workforce.

Detailed explanation-3: -Role of health in human capital formation are as follow: Only a healthy person can work efficiently and with full potential. A healthy person can work in a more effective manner. A healthy person can work in a productive way and in this way it can contribute better in the development of the economy of the country.

Detailed explanation-4: -i. Education. Education not only raises the standard and quality of living but also encourages modern attitudes of people. ii. Health. There is a saying “The greatest wealth is health”. iii. On-the-Job Training. iv. Migration. v. Information.