Impact of Education Policy on India's Economic Growth

Emerging India

The Indian government took a revolutionary step to improve the quality of education by enacting the Right to Education Act (RTE) in 2010. According to this right, education is now a fundamental right for children aged between 6 and 14. The act, furthermore, made it mandatory for private schools to reserve about 25% of their seats for students from low-income groups across the country.

A Look at How the Country's Education Policy Has Impacted Its Economic Growth

The aim of the National Education Policy (NEP) is to enhance teaching quality so that students are able to easily grasp their subjects and can manage complex learning tasks easily. By imbibing better skills, they will be a highly productive workforce, contributing in a bigger way to the economy. It has set an aim of attaining GER of 100% in preschool to secondary education and 50% in higher education.

The government's NEP policy focuses on imparting holistic education so that skills and abilities develop in different ways. This will make them highly productive, so when they get into a career, they will be able to contribute to the organization that employs them. Many will become entrepreneurs and can come up with ideas or ventures that will attract investment. Hence, the dedication policy will drive entrepreneurship, which in turn will promote economic growth. In the effort to bring about a growing, emerging India, the government's decision to modernize the education system is an important one.

Another aspect of the NEP is to provide access to education for everyone. This is vital for progress and growth in every community across the nation, which will lead to higher economic growth. Schools are now following a curriculum that makes learning fun and is very research-oriented.

Furthermore, many foreign universities are establishing themselves in the country, so students can enrol in them after school and gain the credentials they want or graduation certificates that they need without having to leave the country. This also helps to save the country's foreign exchange resources and reduce the number of students travelling abroad for an education. The country's education policy has changed the way students learn, which is a sign of a strong emerging India.

The efforts made so far to improve the educational policy of the country have resulted in the Indian Institute of Technology-Delhi being placed in the top 50 institutions for engineering. In the Union Budget for 2023, 1.12 lakh crore was set aside for education to eliminate the issue of poor funds, which led to poor quality education.