In India, Returns to Education: A Review
Keywords:
Children Education, Engineering Education, Five Year Plan, Indian Education, Third World CountryAbstract
In this article, a critical assessment of some of the most significant studies on rates of return to education in India is presented, emphasizing the differences in calculation techniques, assumptions, and modifications used, as well as the conclusions reached. the human investment revolution in economic thought has yet to take root in the minds of Indian educational policymakers. India invests about 3% of its GNP in its massive formal educational enterprise, which has over 200 million students on rolls and about 3 million teachers spread across 124 universities, over 5,000 colleges, and 750 thousand schools. The ramifications of their findings are also considered. Conclusions on the efficacy of investment in education in India are made based on this review. Theoretical and empirical issues that emerge in this setting are discussed, and the potential for future study in this field is also considered.
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