IMCCRT 2023 4180 Tite-Disparity in Education Expenditure and Economic Growth: An Analysis
Tite-Disparity in Education Expenditure and Economic Growth: An Analysis
Author's Name-Subhasmita Rana
Abtract- Education has been regarded as one of the leading determinants of economic growth since the time of Adam Smith. So, improving the education attainment of the population is an important requirement to foster development of the economy. Almost everyone knows that this country has a shockingly large number of people who lack education. In messy and fragmented mix of public and private education system, there is no effective leverage to put in place good because private sector has never shown much capacity to implement welfare programme on education. So, the expenditure directed by Government towards education sector is recognised as an important input in the education production process which would ensure better educational outcomes. Economic growth is a wider concept where education expenditure plays an important role to boost the economy. It is just like fuel to economy. So, expenditure is at most required. Here the paper tries to examine the disparity in public education expenditure and economic growth. So, study has taken 15 major Indian states by grouping into forwarded states and backword states. It is observed that divergent growth performance of developed and backward region has been widening of regional disparity in the country in terms of Per capita income and in terms of education expenditure it is reducing.so we can go for nexus analysis between two variables.
Key words: Economic growth, Per capita income, regional disparity