Human Capital can be defined as the knowledge, ability, skill and physical capacity of the people which help them to produce more. Human beings can be turned into resources only if their qualitative aspects are developed. Education and health are the major human resource inputs of a country. Human capital is beneficial both individually as well as socially.
(i) Human capital contributes to the social development of the country.
(ii) Human capital contributes to the economic development of the country.
(iii) Human capital helps in proper utilisation of resources available or imported in the country.
(iv) Human capital also contributes in the race of development from an underdeveloped to a developed nation.
