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EMERGING ISSUES IN INDIAN ECONOMY — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsEMERGING ISSUES IN INDIAN ECONOMY5 Marks
Question
Explain the meaning and Importance of Education.
✓

Answer

$1.$ Introduction:
  • Social infrastructure includes the services of education and health.
  • Education is the most important factor.
  • Educated labourer is more useful than uneducated labourer for economic progress.
  • Educated labourers attain skill in short time and understand technology easily.
  • Productivity of such labourers is higher.
  • Therefore to encourage development education is inevitable.
$2.$ Meaning of Education:
  • In ordinary language, education means the process of learning and teaching.
  • The concept of human capital investment is based on this concept of education.
  • This concept of human capital investment is developed by Prof. Simon Kuznet, Prof. Shultz etc. economists whose contribution is significant.
  • Human capital investment means investment of human’s, Physical and mental ability for development.
  • Capital investment includes training, education, research etc.
$3.$ Importance of Education:
  • Education deeply affects economic development. Training, education skill, research is developed through human capital investment.
  • This includes technological knowledge also.
  • In this context one economist has truly said "Underdeveloped countries have not properly ploughed their human resources. Therefore they are under developed. They are materially backward because they are educationally backward."
  • Prof. Marshal has said regarding the importance of human capital investment that "every generation inherits values from their ancestors is the true inheritance.
  • If the physical wealth of the world gets destroyed it will be regenerated quickly.
  • If idea to create physical wealth is destroyed, physical wealth will remain unutilized and with the passage of time it will be destroyed and the world will be at the doorstep of poverty."
  • Education is important from the following view points.
$(1)$ More knowledgeable individual is eligible to acquire high opportunity which raises his / her standard of living.
$(2)$ Due to education individual can differentiate between good and evil.
$(3)$ Thinks logically which installs confidence in him.
$(4)$ Through education he can take advantages of opportunities emerging in every sector of society.
$(5)$ Through education, productivity of labourers can be increased in a factory because trained and educated labourer can adopt new technology easily and implement it. Increased productivity encourages economic development.
$(6)$ Education increase agricultural production too.
  • Through technological education farmers are benefited for process in agriculture.
  • If farmers are provided market information and given financial aid they can increase production and economic progress can be encouraged.
$(7)$ Effective education makes people socially more active.
  • With the spread of education emerges the society adopting progressive changes instead of age old orthodox traditions.
$(8)$ Education can make a person realize the value and hazards to environment and preserve the balance in environment.
  • He is prevented to harm environment through education.
$(9)$ Farmer should be educated to maintain fertility of land.
  • He can properly use chemical fertilizers, pesticides etc.
  • Through education awareness can be brought regarding health and cleanliness.
$(10)$ Education makes a man humble and an ideal individual.
  • In short, education is important to encourage the process of development and progress.
$4.$ Present situation of education in India:
  • Education facility is provided in our country by government and private sector.
$(a)$ Primary and Higher Primary Education:
  • Study from standard $1st$ to $5th$ is primary section.
  • From $6th$ to $8th$ standard is higher primary section.
  • Our constitution has ordered states to provide compulsory and free education to the children of $6$ to $14$ years because education sector is considered important in federal system.
  • $50\%$ of amount of total allocation for education $1s$ spent on primary education.
  • During planning in India there is significant increase in the number of primary schools and teachers.
  • In $2013-14$ there were $1.4$ million registered schools and $7.7$ million teachers.
  • In Gujarat state government celebrates ‘Gunotsav and ‘Praveshotsav’ programmes to encourage children.
  • As a result in $2013-14,$ students in primary schools of Gujarat were $93\%.$
  • Attempt is being made to expand the spread of education under education to all $($Sarva Shiksha Abhiyan$)$ and $RTE ($Right to Education$).$
  • As there are small and scattered villages in India primary education facility has not reached everywhere due to poverty and illiteracy in the villages.
  • Education has not reached upto the expectation.
  • In backward and tribal areas voluntary institutions with the help of the government have made attempts to start primary schools.
  • In the urban areas private organizations have taken the responsibility of starting primary schools.
  • But their aim is profit making rather than service to society.
  • High fees and donations have made education expensive.
  • Owing to poverty and illiteracy there is not enough spread of education in the country.
  • Even today the situation of primary education in small villages is poor and a matter of concern.
  • The dropout ratio of students before completing standard $5th$ is $29\%.$
  • The greatest and the most serious problem related to primary education is that there is acute shortage of trained primary teachers.
  • In $2013-14$ the student teacher ratio was $46:1$ and in higher primary education it was $34:1.$
$(b)$ Secondary and Higher Secondary Education:
  • Standard from $9$ to $10$ are included in secondary education and standard from $11$ to $12$ in higher secondary education.
  • Most of the secondary and higher secondary schools are run by trust with grant of the government.
  • Some schools are managed by private sector and central government.
  • Owing to encouraging government policy, significant progress in secondary school education is observed in $2013-14\ 69\%$ students were registered at secondary level.
  • The following table indicates literacy level in Gujarat and India
Year $1981$ $1991$ $2001$ $2011$
Level of literacy in India $(\%)$ $43.5$ $52.21$ $64.83$ $74.04$
Level of literacy in Gujarat $ (\%)$ $44.92$ $61.29$ $69.14$ $79.31$
$(c)$ College or Higher Education:
  • Study above $12th$ standard is included in college or higher education.
  • Through $U.G.C.$ University Grant Commission with the aid of Central government university structure at state level is organized.
  • However higher education has become much expensive with the entry of private sector through self financed colleges.
$(d)$ Others:
  • Besides all this after $8th$ standard, various short term vocational courses are run by $ITI.$
  • Due to encouraging education policy during planning the level of literacy has raised to desired event e.g. in $1981$ the literacy level was $38.6\%$ which was raised to $63.71$ in $2001$ and $74.0\%$ in $2011.$

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