Public Investment in Education
PUBLIC INVESTMENT IN EDUCTION
INTRODUCTION
“ EDUCATION IS THE MANIFESTATION OF DIVINE PERFECTION, ALREADY EXISTING IN MAN.”
- SWAMI VIVEKANANDA
Good public education is a fundamental right in India, and there is a strong correlation between public investment in education, child development and empowerment. Public investment in education is a long – term investment . It ultimately improves the economic growth of the country.
INVESTMENT
Investment is putting money into something with the expectation that will generate income or the value will appreciate in future or profit.
PUBLIC INVESTMENT
Public investment refers to the investment by the state in a particular asset.
FACTORS INFLUENCING EDUCATIONAL INVESTMENT
National income
Educational expenditure
Manpower development
National expenditure
Educational finance
Educational revenue
National Income
National income is the money value of all the final goods and services produced in a country during a year.
Improved final goods and services can be produced only with the improvement in the education of a country.
EDUCATIONAL EXPENDITURE
A nation’s income spend for educational facilities of its citizens is known as educational expenditure.
Expenditure on education is an investment on human capital.
MANPOWER DEVELOPMENT
The development of productive skills and abilities of a nation’s citizens is known as manpower development.
NATIONAL EXPENDITURE
National expenditure means expenditure on the national products i.e., expenditure on final goods and services produced during the year.
EDUCATIONAL FINANCE
The educational money affairs of the nation is known as educational finance.
EDUCATIONAL REVENUE
The profits of education in terms of intellectual and physical services is known as educational revenue.
THE INDIAN EDUCATION SYSTEM
The education system in India comprises of three key groups :- primary education, secondary education and higher education .
PRIMARY EDUCATION
Primary education comprises of two stages 1) lower primary stage of 4 years , covering the age group 6 to 10, and 2) upper primary stage of 3 years, covering the age 10to 13. UNESCO would like to designate this entire period as “Basic Education.”
SECONDARY EDUCATION
Secondary stage consists of standard VIII, IX and X. It is the terminal stage of education for majority of pupils.
HIGHER EDUCATION
By higher education , we normally mean university education of the academic streams, leading to general degrees. Higher education includes professional courses such as education, engineering, medical, agricultural etc.
EDUCATION SECTOR IN INDIA
Do you know how much the government spends on education? This expenditure by the government is expressed in two ways;
1 ) as a percentage of total government expenditure
2) as a percentage of gross domestic product (GDP)
The percentage of education expenditure of total government expenditure indicates the importance of education in the scheme of things before the government.
The percentage of education expenditure of GDP expressed how much of our income is being committed to the development of education in the country.
GOVERNMENT EXPENDITURE ON EDUCATION
EXPENDITURE ON PRIMARY EDUCATION
Expenditure on primary education is expressed as a percentage of total general government expenditure on education. General government usually refers to central, state and local governments.
Year
% of government expenditure
1952
30.05
2000
35.59
2010
36.38
2019
37.56
( Source: Government of India budget documents)
EXPENDITURE ON SECONDARY EDUCATION
Expenditure on secondary education is expressed as a percentage of total general government expenditure on education. General government usually refers to central, state and local governments.
Year
% of government expenditure
1952
27.21
2000
28.40
2010
34.09
2019
37.56
( Source: Government of India budget documents)
EXPENDITURE ON HIGHER EDUCATION
Expenditure on higher education is expressed as a percentage of total general government expenditure on education. General government usually refers to central, state and local governments.
Year
% of government expenditure
1952
7.92
2000
13.17
2010
20.28
2019
28.53
( Source: Government of India budget documents)
GOVERNMENT EXPENDITURE ONEDUCATION, TOTAL % OF GOVERNMENT EXPENDITURE
General government expenditure on education is expressed as a percentage of total general government expenditure on all sectors.
Year
Total % of government expenditure
1952
8.16
2000
11.69
2010
14.16
2019
16.96
( Source: Government of India budget documents)
GOVERNMENT EXPENDITURE ON EDUCATION, TOTAL % OF GDP
General government expenditure on education is expressed as a percentage of GDP on all sectors.
Year
% of GDP
1952
0.64
2000
3.14
2010
3.87
2019
4.42
( Source: Government of India budget documents)
MAJOR FINDINGS
Primary education takes a major share of total education expenditure and the share of the higher education is the least.
Our government spends more on primary education sector. Because large number of students are admitted to this sector.
On an average, the government spends less on higher education, expenditure per student in higher education is higher than that of primary.
In addition to this the government sanction a large outlay for the promotion of higher education and new loan schemes for the students to pursue higher education.
Recently, the expenditure on all level of education in India was increased as compared into over the past years.
RETURNS
Yield, profit or revenue as from investment is known as returns
PRIVATE AND SOCIAL RETURNS
PRIVATE RETURNS
SOCIAL RETURNS
Academic achievements
Service to society
Characteristic development
Development of culture
Social status
National integration
Skill development
Productive citizens
Employment
Creative works
RATE OF RETURN ANALYSIS
RETURN = TOTAL EXPENDITURE – REVENUE
EDUCATIONAL BENEFITS
DIRECT AND INDIRECT BENEFITS
PRIVATE AND SOCIAL BENEFITS
MONITORY AND NON – MONITORY BENEFITS
DIRECT AND INDIRECT BENEFITS
DIRECT BENEFITS
INDIRECT BENEFITS
Increase literacy
Increasing productiveness of citizens
Development of knowledge
Preservation and transmission of culture
Increase national income
Moral and value based living
Economic development
Earning
PRIVATE AND SOCIAL BENEFITS
PRIVATE BENEFITS
SOCIAL BENEFITS
Earning
valuable services
Provide social status
Integration of society
Knowledge
Economic development
Values
Character development
MONITORY AND NON- MONITORY BENEFITS
MONITORY BENEFITS
NON-MONITORY BENEFITS
Academic achievements
Intellectual productiveness
Socio- economic status of individual
Transmission of culture
Occupation
National integration
CONCLUSION
Education is definitely important in one’s life. A gift of knowledge can bring us to the top of our dreams. Education makes people capable of doing new interesting things that can go a long way to improving human living conditions and standard. Investments in education convert human beings into human capital. Investment in human capital formation is considered as efficient and growth enhancing. Investment in education stimulates economic growth of the country. Our education is really worth investment.
References
INTRODUCTION
“ EDUCATION IS THE MANIFESTATION OF DIVINE PERFECTION, ALREADY EXISTING IN MAN.”
- SWAMI VIVEKANANDA
Good public education is a fundamental right in India, and there is a strong correlation between public investment in education, child development and empowerment. Public investment in education is a long – term investment . It ultimately improves the economic growth of the country.
INVESTMENT
Investment is putting money into something with the expectation that will generate income or the value will appreciate in future or profit.
PUBLIC INVESTMENT
Public investment refers to the investment by the state in a particular asset.
FACTORS INFLUENCING EDUCATIONAL INVESTMENT
National income
Educational expenditure
Manpower development
National expenditure
Educational finance
Educational revenue
National Income
National income is the money value of all the final goods and services produced in a country during a year.
Improved final goods and services can be produced only with the improvement in the education of a country.
EDUCATIONAL EXPENDITURE
A nation’s income spend for educational facilities of its citizens is known as educational expenditure.
Expenditure on education is an investment on human capital.
MANPOWER DEVELOPMENT
The development of productive skills and abilities of a nation’s citizens is known as manpower development.
NATIONAL EXPENDITURE
National expenditure means expenditure on the national products i.e., expenditure on final goods and services produced during the year.
EDUCATIONAL FINANCE
The educational money affairs of the nation is known as educational finance.
EDUCATIONAL REVENUE
The profits of education in terms of intellectual and physical services is known as educational revenue.
THE INDIAN EDUCATION SYSTEM
The education system in India comprises of three key groups :- primary education, secondary education and higher education .
PRIMARY EDUCATION
Primary education comprises of two stages 1) lower primary stage of 4 years , covering the age group 6 to 10, and 2) upper primary stage of 3 years, covering the age 10to 13. UNESCO would like to designate this entire period as “Basic Education.”
SECONDARY EDUCATION
Secondary stage consists of standard VIII, IX and X. It is the terminal stage of education for majority of pupils.
HIGHER EDUCATION
By higher education , we normally mean university education of the academic streams, leading to general degrees. Higher education includes professional courses such as education, engineering, medical, agricultural etc.
EDUCATION SECTOR IN INDIA
Do you know how much the government spends on education? This expenditure by the government is expressed in two ways;
1 ) as a percentage of total government expenditure
2) as a percentage of gross domestic product (GDP)
The percentage of education expenditure of total government expenditure indicates the importance of education in the scheme of things before the government.
The percentage of education expenditure of GDP expressed how much of our income is being committed to the development of education in the country.
GOVERNMENT EXPENDITURE ON EDUCATION
EXPENDITURE ON PRIMARY EDUCATION
Expenditure on primary education is expressed as a percentage of total general government expenditure on education. General government usually refers to central, state and local governments.
Year
% of government expenditure
1952
30.05
2000
35.59
2010
36.38
2019
37.56
( Source: Government of India budget documents)
EXPENDITURE ON SECONDARY EDUCATION
Expenditure on secondary education is expressed as a percentage of total general government expenditure on education. General government usually refers to central, state and local governments.
Year
% of government expenditure
1952
27.21
2000
28.40
2010
34.09
2019
37.56
( Source: Government of India budget documents)
EXPENDITURE ON HIGHER EDUCATION
Expenditure on higher education is expressed as a percentage of total general government expenditure on education. General government usually refers to central, state and local governments.
Year
% of government expenditure
1952
7.92
2000
13.17
2010
20.28
2019
28.53
( Source: Government of India budget documents)
GOVERNMENT EXPENDITURE ONEDUCATION, TOTAL % OF GOVERNMENT EXPENDITURE
General government expenditure on education is expressed as a percentage of total general government expenditure on all sectors.
Year
Total % of government expenditure
1952
8.16
2000
11.69
2010
14.16
2019
16.96
( Source: Government of India budget documents)
GOVERNMENT EXPENDITURE ON EDUCATION, TOTAL % OF GDP
General government expenditure on education is expressed as a percentage of GDP on all sectors.
Year
% of GDP
1952
0.64
2000
3.14
2010
3.87
2019
4.42
( Source: Government of India budget documents)
MAJOR FINDINGS
Primary education takes a major share of total education expenditure and the share of the higher education is the least.
Our government spends more on primary education sector. Because large number of students are admitted to this sector.
On an average, the government spends less on higher education, expenditure per student in higher education is higher than that of primary.
In addition to this the government sanction a large outlay for the promotion of higher education and new loan schemes for the students to pursue higher education.
Recently, the expenditure on all level of education in India was increased as compared into over the past years.
RETURNS
Yield, profit or revenue as from investment is known as returns
PRIVATE AND SOCIAL RETURNS
PRIVATE RETURNS
SOCIAL RETURNS
Academic achievements
Service to society
Characteristic development
Development of culture
Social status
National integration
Skill development
Productive citizens
Employment
Creative works
RATE OF RETURN ANALYSIS
RETURN = TOTAL EXPENDITURE – REVENUE
EDUCATIONAL BENEFITS
DIRECT AND INDIRECT BENEFITS
PRIVATE AND SOCIAL BENEFITS
MONITORY AND NON – MONITORY BENEFITS
DIRECT AND INDIRECT BENEFITS
DIRECT BENEFITS
INDIRECT BENEFITS
Increase literacy
Increasing productiveness of citizens
Development of knowledge
Preservation and transmission of culture
Increase national income
Moral and value based living
Economic development
Earning
PRIVATE AND SOCIAL BENEFITS
PRIVATE BENEFITS
SOCIAL BENEFITS
Earning
valuable services
Provide social status
Integration of society
Knowledge
Economic development
Values
Character development
MONITORY AND NON- MONITORY BENEFITS
MONITORY BENEFITS
NON-MONITORY BENEFITS
Academic achievements
Intellectual productiveness
Socio- economic status of individual
Transmission of culture
Occupation
National integration
CONCLUSION
Education is definitely important in one’s life. A gift of knowledge can bring us to the top of our dreams. Education makes people capable of doing new interesting things that can go a long way to improving human living conditions and standard. Investments in education convert human beings into human capital. Investment in human capital formation is considered as efficient and growth enhancing. Investment in education stimulates economic growth of the country. Our education is really worth investment.
References
BEd assignment https://bedassignmentquestioncc2sardarpatel.blogspot.com/
ReplyDelete