Indian Economic Development: Human Capital Formation in India
Question:
Who incurs private expenditure on education?
Options:
Government
Philanthropic organizations
High net worth Individuals
Both 2 and 3
Correct Answer:
Both 2 and 3
Explanation:
The correct answer is Option 4: Both 2 and 3
Philanthropic organizations and high net worth individuals can both incur private expenditures on education. While the government typically handles public expenditure, private entities and individuals contribute to education through donations, funding scholarships, and other financial support.
