Correct Answer: Both assertion and reason are true, and the reason is the correct explanation of the assertion.

Solution : The correct answer is (a) Both assertion and reason are true, and the reason is the correct explanation of the assertion.

The assertion states that human capital formation contributes to overall national development. Human capital formation refers to the process of developing and enhancing the knowledge, skills, and abilities of individuals within a country.

The reason provided is that developed human capital strengthens a country's economic competitiveness and social progress. This is true because when a country invests in developing the skills, knowledge, and capabilities of its population, it creates a skilled workforce that is more productive and innovative. Skilled individuals contribute to economic growth, productivity improvements, and technological advancements, which enhance a country's economic competitiveness. Additionally, human capital development also improves social progress by promoting social mobility, reducing income inequality, and fostering social cohesion.

Therefore, both the assertion and the reason are true, and the reason correctly explains the assertion.