Our school infrastructure needs a revamp to flatten its pyramid
Mint Mumbai|February 22, 2024
Primary education has widened in India but left us short of capacity for higher-level schooling. This challenge must be met
BIBEK DEBROY, SANJAY KUMAR & ADITYA SINHA
Our school infrastructure needs a revamp to flatten its pyramid

Investing in public education systems is crucial for countries seeking to leverage their demographic dividend. South Korea’s economic development, often called the ‘Miracle on the Han River,’ exemplifies the impact of strategic educational investments. During its rapid industrialization, the emphasis on education significantly improved literacy rates and provided the necessary skills for industrial and technological sectors.

Empirical research supports the notion that educational investment is positively correlated with economic growth. According to World Bank studies, each additional year of schooling is associated with up to a 10% increase in individual earnings, and countries prioritizing educational quality generally exhibit higher economic growth rates. Similarly, a study by Unicef found that each additional year of schooling is associated with an increase of 0.37 percentage points in GDP growth. This can rise up to 1 percentage point with improved learning outcomes.

As the demographic window narrows with time, the elderly population's proportion is set to rise, gradually diminishing the dividend. This transient nature of a demographic advantage underscores the urgency for strategic interventions to harness its potential before the contours shift towards an older demographic profile. In this context, strategic investments in education are paramount in amplifying the benefits of the demographic dividend. This is precisely what India is doing.

Esta historia es de la edición February 22, 2024 de Mint Mumbai.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición February 22, 2024 de Mint Mumbai.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE MINT MUMBAIVer todo
7 myths about ADHD and how to handle it
Mint Mumbai

7 myths about ADHD and how to handle it

Some adults with ADHD are misdiagnosed as having anxiety or depression as myths prevail even in the medical community

time-read
4 minutos  |
November 12, 2024
Why women bear the brunt of misdiagnosis
Mint Mumbai

Why women bear the brunt of misdiagnosis

Girls are half as likely as boys to be diagnosed correctly as having ADHD, show studies

time-read
2 minutos  |
November 12, 2024
At these international marathons, it's ready, steady, swig
Mint Mumbai

At these international marathons, it's ready, steady, swig

Can running and drinking go together? From France to Scotland, here are five races where running is a merry party

time-read
2 minutos  |
November 12, 2024
Indian IT firms should brace for Trump's second term
Mint Mumbai

Indian IT firms should brace for Trump's second term

Restrictive visa, trade and other policies under Trump 2.0 may force a review of their US-centric business models

time-read
3 minutos  |
November 12, 2024
Freebies don't offer a long-term solution but let us not ban them
Mint Mumbai

Freebies don't offer a long-term solution but let us not ban them

Keeping citizens dependent on handouts is not fiscally sustainable. India needs a transparent framework to regulate them

time-read
4 minutos  |
November 12, 2024
Is Nvidia's chief dreaming of selling us R2-D2-like robots?
Mint Mumbai

Is Nvidia's chief dreaming of selling us R2-D2-like robots?

It may turn out to be a good bet if the chip-maker keeps its risks low

time-read
3 minutos  |
November 12, 2024
Two ways the EPFO can get itself an image boost
Mint Mumbai

Two ways the EPFO can get itself an image boost

India's state-run retirement fund would do itself a favour by resolving its high level of claim rejections and speeding up interest payments. Its digital makeover should signal efficiency

time-read
2 minutos  |
November 12, 2024
Mint Mumbai

Forex card vs debit card: How to lower cross-border markup fees

Unlike debit cards, forex cards are not linked to your bank account, limiting your exposure to fraud and theft

time-read
5 minutos  |
November 12, 2024
India must reassess its rejection of the RCEP trade bloc
Mint Mumbai

India must reassess its rejection of the RCEP trade bloc

Joining it can work in our favour as global trade barriers get reshaped and value chains are forged

time-read
4 minutos  |
November 12, 2024
Armed hostility between Israel and Iran is very likely to escalate
Mint Mumbai

Armed hostility between Israel and Iran is very likely to escalate

Israel senses a high-risk high-return chance to reshape West Asia that Trump might green-light

time-read
3 minutos  |
November 12, 2024