Question

In what way can government's expenditures on education affect the economic growth? In what way the economic growth can affect government's expenditures on education?

Please give the answer in points

Answer 1

The level of development of a country can be gauged from the level of education. Hence, education is spent on health and infrastructure by the government. Under education, if the government spends on primary secondary higher education, technical education and skill development, then it will lead to human development so that people can do self-employment. Also, they can become workable which will give them benefit in the form of production to the economy.

By investing in education, any family can be brought out of the vicious cycle of poverty, that is, when members of that family get education, then they become eligible for employment and if they are working for low income then get rid of them. But can move towards higher income functions. Which removes the vicious cycle of poverty and contributes significantly to the economy.

Initially, government investment in education may cause fiscal deficit, but in the long run it will be beneficial for the economy.

In which country economic growth is taking place, it means that a large amount of money will be spent in that country on higher education, on technical education, on engineering, on medical education, on universities, colleges etc. and students of foreign countries to study students. Are also invited which will contribute to India's GDP.

The growth in an economy means that there is a level of basic education ie education at primary and secondary levels, so the government will spend less on it. Rather higher expenditure will be spent on tasks like higher education technical education engineering medical science PhD research and development etc.

With the growth, we will also be able to do expand on higher education scientific work ,PhD and research and development etc. in the field of education like space , defence ,medicine, genetic engineering.