Education is considered an important input for the development of a nation. How?

indian-economy
cbse

#1

Education is considered an important input for the development of a nation because of the following reasons :
(i) Education endows people with quality
skills, thereby enhancing their productivity. Consequently, it enhances the income earn¬ing capacities and creates opportunities for the people. Moreover, it also enables human capital to utilize the available physical capital optimaly.
(ii) Education develops mental abilities of people and helps them to make their choice rationally and intellectually. Education churns out good citizens by inculcating values in them.
(iii) An educated public of a nation has greater
acceptability of modernization and modern techniques. This not only helps the economy to grow but also facilitates a primitive economy to break the shackles of tradition and backwardness.
(iv) Education enhances the income earning capacity of people thereby raising the standard of living and improving the quality of living.
(v) Education not only increases the income
earning capacity but also reduces the skewed distribution of income, thereby forming an egalitarian society.
(vi) It fosters economic development by increasing
the participation of people in the process of growth and development.