Investment in Quality Education: A Necessary Condition for Inclusive Development

Abstract

In the second half of the 20th century, education was recognized as an important element of economic development throughout the world. The notion of "investment in human beings" stimulated extensive research that emphasized the fact that spending on education and health is crucial to guarantee economic and social well-being, as well as society. Evidence suggests that education not only improves productivity, but also extends choice before people. However, many countries still recognize the role of education to ensure high economic returns for both people and the country, but there is still insufficient education in many developing countries, such as India. Despite the many pressures in India and many international commitments, India has been ambiguous for more than 60 years in the implementation of one of the most basic constitutional obligations that make primary education a fundamental right. In addition, the situation at the secondary and tertiary level is not encouraging. As a result, there are two types of educational systems in this country. One that satisfies some needs that can support educational costs with private money, and the other that is relatively inexpensive. Most people graduate without acquiring a minimum level of knowledge and skills. This document argues that a mere approach to education in the era of competition and excellence is not enough. Due to this pathetic nature of polarization and popular education, the benefits of economic growth are concentrated in a small number of people and average productivity is severely degraded. This document also assumes that investment in quality education for all will increase average productivity, improve consumption patterns and increase investment in education. In addition to focusing on registration, educational policy should focus on improving the quality of educational outcomes.