Education and Economic Growth in India
Keywords:Education, economic development, policies
Education is a process of facilitating learning - knowledge, skills, values, & beliefs etc. So
education determines a country's future as it has all the powers to change everything. In the
modern era, global economy is very much dependent on the advanced technology where
considerable emphasis is placed on the contribution made by human resources or human capital,
to economic growth. The principle is that the relative contribution of every individual to the
economic growth depends on their human capital - the education, knowledge, skills,
competencies and other attributes that are relevant to economic activity. As a consequence,
developing the skills and knowledge of the labour force is regarded as a key strategy for promoting
national economic growth.
Investment in education to increase economic growth, as one form of human development
strategy has gained economists' and policy makers's interest. It establishes human capital that
makes a substantial contribution to economic and income growth. It's contribution returns in the
form of skilled labor which leads to increased development and improved quality of life.
"Education" as a key determinant of economic development and growth is believed to be the
central focus of many emerging economies since they have managed to restructure their entire
economic policies towards enhancing education to attain economic development and growth at
global standard in the recent past. Keeping all the facts in mind, an attempt has been made in this
paper to describe the relationship between education and economic development in general and
India in particular
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