“In India, National Education Policy $\displaystyle 2020$ has stressed a lot on in-service training of the teachers.”

(i)

Identify the source of Human Capital Formation (HCF) indicated in the aforesaid statement.

(ii)

Elaborate the likely impacts of this source on the economic development of India.

On-the-job training is the source of Human Capital Formation (HCF) indicated in the aforesaid statement.

On-the-job training has become an integral part of work environment in the recent times as it enhances the productive capacity of employees. It enables employees to develop skills and adapt to modern technologies. As a result of on-the-job training, an employee is likely to contribute more productively leading to the economic development of India.