Education in India
Role of Education in Promoting Economic Growth and Development
Positive Externalities from Education
- More educated individuals are usually more productive workers.
- Educated citizens are more informed and usually translates into more active voters.
- It is been observed that Educated Families have access to financial assistance through education grants and loans.
- Public education helps in redistribution of Income. All Child in households, no matter what their parents income level are, must be provided with education. This will ensure fair income distribution in the future.
- The well governed Government public schools that provide free education, gives every child (rich or poor) the chance to learn and develop his/her skills.
- “A stable and democratic society is impossible without a minimum degree of literacy and knowledge on the part of most citizens and without widespread acceptance of some common set of values. Education can contribute to both. In consequence, the gain from the education of a child accrues not only to the child but also to other members of the society”
How Education Promote Economic Growth
Channel One: Economic Channel
Channel 2: Technological Channel
Channel 3: Societal and Institutional Channel