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How does the quality of education affect economic growth in India?
India is a developing nation with immense potential for economic growth with 60.7% of India's population was in the working age group. (As per the latest census). Education plays a multi-faceted role in shaping a society and it's economic growth. Following are the various ways in which the qualityRead more
India is a developing nation with immense potential for economic growth with 60.7% of India’s population was in the working age group. (As per the latest census).
Education plays a multi-faceted role in shaping a society and it’s economic growth. Following are the various ways in which the quality Education of education will drive positive economic growth:
1. Accessibility: It enhances access to current and scientific concepts.
2. Efficiency: It improves people’s ability to absorb new technologies.
3. Awareness: It raises knowledge of possibilities and labor mobility.
4. Adaptability: Education helps people obtain skills and attitudes that will allow them to grasp societal changes and scientific advances.
5. Innovation: Education investment is one of the main human capital sources enabling inventions and discoveries.
6. Sophistication: A country’s ability to adopt sophisticated technologies is aided by a well-educated labor population.
To sum it up, education directly impacts salary, and higher salaried persons contribute more to taxes, which fosters economic growth at a national level.
The National Education Policy of 2020 is an appreciable step toward improving the quality of education in India. It can help India reap the benefits of our demographic dividend and prevent it from turning into a demographic disaster.