What is the Role of Higher Education in a Country’s Economy?
The role of education in sustainable economic and social development is escalating year by year, and this will continue over the next few decades. No country can achieve sustainable economic development without a substantial investment in human capital. Education enriches people’s understanding of themselves and the world. It improves the quality of their lives and leads to broad social benefits for individuals and society. Education raises people’s productivity and creativity and promotes entrepreneurship and technological advances. According to the Catalyst Bureau, education has a very crucial role to play in securing economic and social progress and improving income distribution.
Specifically, fiscal policy, monetary policy, and policies related to foreign exchange rates play a significant role in the economic growth of a country. Avoiding significant overvaluation of the currency is one of the most robust imperatives that can be gleaned from the diverse experience with economic growth around the world. The economic growth of India averaged 1.67 percent from 1996 to 2016.
Aren’t we more Focused on Performance & Output only? Aren’t we pushing our child to “Rataabazzi”? Aren’t parents, children, and our education system confused about “What They Want”?
The education we provide to students in grades 6-8 is the “roots for success” of what they will achieve in their careers. Therefore, this education is extremely imperative for all sections of society.
This middle-level education is that part of the success ladder where the same methodology is spread across various topics that focus on preparing a base for higher-level concepts. These ideas serve as stepping stones to a fundamental understanding of the higher-level terms.