Discuss the following as a source of human capital formation

(i) Health infrastructure

(ii) Expenditure on migration.

(i) Health infrastructure – A person is said to be healthy when he/she is physically, socially, and mentally sound. It includes the cost of preventive and curative medicines, supply of clean drinking water, good sanitation, etc. The investment in health sector is a source of human capital formation because it provides healthy labour force to the country and at the same time increases the productivity of the people of the country. We should not forget the phrase “Health is Wealth”, a healthy population can contribute more to the GDP of the country.

(ii) Expenditure on migration – The expenditure on migration includes the transportation cost and the cost of living of the people who have migrated. People migrate from one place to another in search of better job facilities and improved living condition. The expenditure on migration is termed as a source of human capital formation because it increases the earning of the person who has migrated and contribute to the GDP of the country.