Main Article Content
For any country to achieve economic growth and prosperity human capital formation plays a crucial role. A country with a large quantity of natural resources is in a position to develop more quickly than a country which is scarce of such resources. However, the presence of large quantity of resources is not a sufficient enough condition to explain all aspects of economic growth. Economics are created and managed by people. The people must be skilled and energetic enough for performing the duties required to build an economy which is self-sufficient . Economic prosperity and economic decline depend on population. This is called human capital. Human capital formation extend competency in terms of knowledge, skills, efficiency, technology adoption, time management, labour mobility of workforce. The study on human capital for economic development is particularly important in a Indian economy with highest population of skilled and unskilled laborers.. Therefore this study is taken to fill the gap to some extent and to focus the importance of human Capital in economic development.