The Education Commission in 1966, had recommended that at least 6% of GDP should be spent on education in India. However, even after 50 years of such a recommendation, the government continues to spend 3-4% of GDP on education. How has this affected the education sector in India? What value stands violated by the Central Government?

Education is a challenging proposition for Indian economy. Discuss.

"Over time, human capital has replaced physical capital as the most scarce resource and the main economic factor". What is the value of human capital in economic development?

Read the passage given below and answer the following questions from 1 to 4.
People spend to acquire information relating to the labour market and other markets like education and health. This information is necessary to make decisions w.r.t investment in human capital and its efficient utilisation. Thus, expenditure incurred for acquiring information relating to the labour market and other markets is also a source of human capital formation.

1. Which of the following is the source of human capital formation in India?

1. Health
2. Migration
3. Acquiring information
4. All of these

2. Education provides:

1. Private benefit
2. Social benefit
3. Both (a) and (b)
4. None of these

3. persons contribute more to the growth of an economy.

1. Ducated
2. Healthy
3. Both (a) and (b)
4. None of these

4. Training given by a company to its employees is generally__________?

1. Investment
2. Social wastage
3. Both (a) and (b)
4. None of these

Discuss the weaknesses of education sector in India.

Bring out the differences between human capital and human development.

Why do we observe regional differences in educational attainment in India?

Examine the role of education in the economic development of a nation.OR
'Education plays a significant role in economic development'. Discuss.

Keeping in view the present scenario, what should be the objectives of education in India?

Read the passage given below and answer the following questions from 1 to 4.
Both forms of capital formation are the outcomes of conscious investment decisions. The decision regarding investment in physical capital is taken on the basis of one’s knowledge in this regard. The entrepreneur possesses the knowledge to calculate the expected rates of return to a range of investments and then rationally decides which one of the investments should be made. The ownership of physical capital is the outcome of the conscious decision of the owner the physical capital formation is mainly an economic and technical process.
Human capital formation takes place in one’s life when she/he is unable to decide whether it would maximize her/ his earnings. Children are given different types of school education and health care facilities by their parents and society. Moreover, the human capital formation at this stage is dependent upon the already formed human capital at the school level. Human capital formation is partly a social process and partly a conscious decision of the possessor of the human capital.

1. Which of the following does not correctly differentiate between the physical and human capital?

1. Human capital is intangible whereas physical capital is tangible.
2. Human capital can cope up with the changing technology whereas physcical capital can not.
3. Human capital generates both personal and societal benefits whereas physical capital generates only personal benefit.
4. Human capital gets obsolete with time whereas physcial capital does not.

2. In the context of the paragraph, it can be argued that human capital depreciates faster than the physical capital. The given statement is:

1. True
2. False
3. Partially true
4. Can’t comment due to lack of proper estimation mechenism

3. Machines and industrial tools are examples of:

1. Physical capital
2. Human capital
3. Both physical and human capital
4. Natural capital

4. Investment in education by parents is the same as_______?

1. Investment in intermediate goods by companies
2. Investment in CSR activity by companies
3. Investment in capital goods by companies
4. None of the above