In pre-independent India, Dadabhai Naoroji was the first person to discuss the concept of a poverty line. Poverty is the inability to secure the minimum human needs of food, clothing, housing, education and health.
Economics Class 9
The main aim of human capital formation in India is to make human beings in a nation more productive. Expenditure on education and health was incurred through the three tiers of the government—union government, state government and local government.
Economics studies the economic behaviour of individuals and organization in society. It also studies individuals and organizations engaged in economic activities concerned with the production, distribution and consumption of goods and services. Hence, Economics is regarded as the queen of all social sciences.