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Question
"Active Government intervention is essential in education and health sectors in India."
Do you agree with the given statement? Give reasons in support of your answer.
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Solution
Yes, I agree with the statement that active government intervention is essential in the education and health sectors in India.
Reasons:
- To promote equity: For persons in the lower and medium income groups, health and education becoming more expensive. Therefore, the majority of the population will be deprived of these goods if they are left to the free play of market forces or in private hands. Therefore, government intervention is required to ensure that persons with lesser incomes have access to medical and health facilities.
- For human capital formation: More money spent on health and education results in the creation of more human capital in the nation. Therefore, it is the responsibility of the government of a nation to offer it at a low cost in order to develop assets for the economy.
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