Education for Economic Growth in India

India must spend more on education. The laurels of economy would become more palpable in the society, if spending on education is increased substantially. Education should be considered one of the surest ways of bringing about a change in the economy. Educated work-force is more equipped to work in market economy, and bring about a change in their living conditions. Educated work-force can participate in the market economy with ease, and contribute to the growth of economy. Most nations that have an educated work-force do considerably well when it comes to economic and social indicators. Educated work-force must be given a priority that they must deserve in the market economy.

In India, both the private sector and the government would be well-advised to expend more resources on education. Education spending must be increased and demand of the market must be satisfied. Education becomes a license to participate in the economy, and gives citizens a realization of their rights and nature of work that they do. Education should be considered as important as any other social measures to improve the conditions of citizens in India. Better educated work-force would contribute to the growth of the economy as well be responsible part of the society that they live in.

Education should not be avoided by the government, and more resources must be expended at giving citizens the education that they deserve according to their interests and inclinations. Most men and women work according to their inclinations, they work in order to earn as they must in the market economy that they participate in. Indian economy would work efficiently if it has an educated work-force that can meet the demands of the economy. Economy must be given the priority that it must have by the government, and education as a measure must be considered most important among all. At present India spends 4.6% of its GDP on education.

The present state of affairs should be made more productive and more money should be spent on education by the government and the private sector. India’s economy needs an educated work-force and it would be in the interests of the economy to expend more resources on education. A better educated work-force can easily participate in market economy and contribute towards the income generation. Economy needs more budgetary spending on education, both at the primary, secondary and higher education, including the vocational education.

The government should acknowledge the import of education and the changes that it brings to the society, and how it can contribute to the growth of the economy. Vocational education along with higher education needs more resources from the government and the private sector. Higher education and vocational education can work in the interest of the work-force. More spending on higher and vocational education can bring about a change for growth in the economy. Economy would benefit from more educational spending.

Yuvraj Saharan

Capital Report