Rahul U.

Government expenditure on education can be expressed as a percentage of GDP or as a percentage of total government expenditure. As a percentage of GDP the government expenditure on a given level of education (ie: secondary or university level) is divided by the total GDP and multiplied into 100; and as a percentage of total government expenditure: the expenditure on any level of education is divided by the total goverment expenditure and multiplied into 100.

Human capital formation is essential to the growth of the economy. Human capital formation increases the innovative capacity of the citizen, and as much of the modern economy and market structure is based on innovation this tendency in the citizen would fuel economic growth. The individual also tends to participate more in the economy as his knowledge base and health is widely enhanced. Human capital formation also involves advanced knowledge in the efficient use of technolgy, this would ensure that there is no waste (money as well as time based), thereby fuelling economic growth. Human capital formation and a knowledge based, healthy society has been proved to create exponential results in economic growth far exceeding the investments required to form such a capital base.

1. The association is known as a co-operative.

2. Two examples would be producer cooperatives and worker cooperatives. Producer cooperatives are the type you've mentioned above; and worker cooperatives all workers own the company, such as the Kudumbashree initiative in Kerala.

3. Values of equality, equity and a sense of social responsibility are the key influencers of cooperative societies.