Education is considered to be an important input for the development of a nation How Economics CBSE class 11 ncert

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Education is considered to be an important input for the development of a nation. How? -Economics CBSE class 11 ncert

Book: Indian Economic Development
Chapter 5: Human Capital Formation in India
(NCERT textbook questions)


By:Aparna-Dasgupta

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Education is considered an important input for the development of a nation in the following ways:
Development of skills: Education plays an important role in improving skills which are required to enhance the productivity level. It helps develop skills and impart training to increase production. It facilitates the use of innovative ideas and ability to adapt to changes in science and technology. Thus, the use of skilled workers in production paved the way towards sustainable economic development.
Development in mental ability: Decision-making ability and mental abilities of an individual are developed through continuous investment in education. It develops the ability to make right choices of the available resources in the economy. This leads to efficient use of resources resulting in higher productivity. Thus, education prepares individuals as human resources for a nation.
Modernisation: The education system focuses on increasing productivity of human resources with technical progress at all levels of work. It increases the receptivity of people to modern and scientific ideas. Since independence, the number of technical and professional educational institutions increased to a great extent. Thus, the use of advanced technology in the production process becomes easier with suitable educational system.
Social awareness: The educational system establishes social awareness among people. It helps identify the available natural and human resources present in the economy which lead to higher production and thus economic growth.  
Increase in the standard of living: Higher expenditure on education increases the efficiency of the labour productivity as they become skilled in their jobs. An educated person possesses higher productivity and efficiency and therefore has a relatively higher income earning capacity. The higher income and greater access to modern techniques with rise in the education level raises the standard of living and quality of life in the nation. 
Increase in participation rate and equality: An individual with the capacity to obtain knowledge and specialised skills provides higher employment opportunities. This enhances the productive efficiency and the rate of participation of workers in economic, social and political activities. This high rate of participation implies the high degree of economic and social equality in a nation. 

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