Role of Education in Human Capital Formation in Bihar

Every country depends on its material and non-material resources for achieving growth and development While the physical factors of production are limited for an economy, their productivity can be enhanced by improvements in technology and productivity of the labour force. The productivity of labour force is termed as human capital formation. It can be enhanced most effectively through education. Recognising that education is a necessary element of human capital formation the government of India has taken many steps to expand education in the country. The following article examines the role of education in human capital formation and the steps taken by the Government India and the State government of Bihar in this context.