Welfare Economics and Human Capital Formation in India with Special Reference to the Weaker Section of the Population

Abstract

Welfare economics analysis is a significant issue in the field of socio-economic and there are several studies on different issues done by different nations. Human Capital is the biggest capital for any nation and such capital should have been taken proper care, attention and development. The review system is a significant action regarding any policy including welfare economic policies as it provides a critical analysis in the form of strength, weakness, opportunity and threats. authors on the basis of various research studies. Sociological, psychological and financial needs are the major needs of all the individuals’ and many people are not able to fulfil the above needs. There is a strong relation between unemployment and human capital formation but few studies have given its solution. Unemployment alone creates lots of other problems such as child labour, criminal activities, sex workers, beggars etc. in this paper authors elaborated all the problem and challenges in welfare economics and human capital formation.