question_answer 13)

Examine the role of education in the economic development of a nation.

Answer:

Education has a very important role in the economic development of a nation, which is evident from the following points (i) Enhancing Knowledge and Skills A better educated person has greater skill and knowledge which enhance productivity and therefore provide a greater opportunity to work and earn higher income. (ii) Absorption of Modem Technology Education develops the skill and knowledge base required for understanding and adopting modern technology. This helps in increasing productivity, output and economic development of the nation. (iii) Reduction in Income Inequality Education enhances the income earning capacity of people from economically backward sections of the country and thus reduces the inequalities in the distribution of income. (iv) Research and Development Education helps in preparing learned scientists and researchers in various subjects, who are involved in research and development activities to bring out innovative products, technologies and processes and thus add to the economic development of the nation. (v) Standard of Living Education raises the living standard of people by enhancing [heir income earning capacity. (vi) Participation Rate Education makes a greater proportion of population capable of participating in the economic, social and political activities of a nation thus raising the participation of people in the development process.