Read the passage given below and answer the following questions from 1 to 3.
India realized the significance of human capital in financial development in its early stages. The Seventh Five Year Plan says, ‘Human Resource improvement has essentially to be appointed a key part in any development technique, especially in a nation with such a grand population. The reason for this action plan being:
Higher Productivity of Physical Capital: Human capital boosts the productivity of physical capital as skillful and professional operatives can understand and function the machines or guidelines efficiently than untrained operatives. Human Capital encourages the advancement of new techniques for production and this results in the increase of economic development in the shape of an increase in GDP.

1. In which five year plan, India realised the importance of Human capital?

1. Sixth
2. Seventh
3. Eighth
4. Ninth

2. Human capital formation is very important especially for the nations which have ________ population.

1. Small
2. Very Small
3. Large
4. None of these

3. Human capital leads to an increase in ______________?

1. Quality of life
2. Standard of living
3. Both (a) and (b)
4. None of these

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

Read the passage given below and answer the following questions from 1 to 3.
The concept of human capital has relatively more importance in labour surplus countries. The surplus-labour in these countries is the human resource available in more abundance than the tangible capital resource. The problem of scarcity of tangible capital in the labour surplus countries can be resolved by accelerating the rate of human capital formation with both private and public investment in the education and health sectors of their national economies. The statistical indicator of estimating human development in each nation is Human Development Index (HDI). It is the combination of the “Life Expectancy Index”, “Education Index” and “Income Index”. Human capital is the backbone of human development and economic development in every nation.

1. In which countries concept of human capital is more important?

1. Labour surplus countries
2. Capital surplus countries
3. Both a) and b)
4. None of these

2. Which of the following statement is correct?

1. Human capital increase labour productivity, human development helps in making better choice in future.
2. Human capital helps in making a better choice in future, human development enhances labour productivity.
3. Human capital formation in end in itself, human development is a mean to an end that is increasing in labour productivity.
4. None of these

3. Which of the following is not the part of human development index?

1. Literacy
2. Liberty
3. Health
4. Income

Discuss the following as a source of human capital formation.
Expenditure on migration.

What does government expenditure on education reveal?

Why and how do firms give on-the-job-training to their workers?

Explain the meaning of human capital formation with the help of an example.

What role can the government play in human capital formation in India?

Give an account of growth of education sector in India.

Explain the concept of vocationalisation of education.