Published Paper Details:

Education is believed to be a major parameter contributing towards nation building. Access to education is directly linked to economic advancements. Education has a wider scope in contributing towards poverty alleviation- a prime factor behind economic progress of a nation. Acquisition of knowledge ensures the way towards better skills, enhancing standard of living, designing new ideas, implementing innovations, paving the way to technological expansion, structuring strategies for research and development and instilling a sense of self independence among the learners. Hence, investments in education are a need of the hour. But, in India, a section of the population still faces the dearth of access to quality education. Accordingly, it is required to design initiatives to make learning accessible to all, which can thereby contribute towards economic development of the nation. Improvement in per-capita income, productivity, agricultural development, industrialization, entrepreneurship, policy determination, administration, foreign trade, self empowerment, social development, and access to better health facilities, better job prospects and human capital formation are the inherent consequences of increase in investment in education. These further enrich the economic status of an individual as well as the nation. The government has an active role to play in channelizing the relation between education and economic development. This paper intends to study this relationship between education and its contribution towards achieving economic transformation for the future.