RIGHT TO EDUCATION AND ITS IMPACT ON INCLUSIVE GROWTH STRATEGY OF INDIA
For any country to experience economic development, there are various strategies that are to be explored. In general, a country can accumulate wealth by investing in physical capital, technological innovation, human capital, research and development and social capital. Specifically, if we follow the approach of human development, then we need to invest in education to raise the literacy level of a nation as well as in health related institutions to extend the longevity of its people. In this paper I will concentrate on the education aspect of human development.
After briefly explaining the nature of economic and human development variables, I will focus on the initiative of the Indian government to provide education to all its children through the bill of "Right to Education". This is a strategy within the context of Five Year Plans of India which aims at the strategy of inclusive growth. As an emerging economy, India needs to have more skilled population if it wants to enter into a path of development at a greater pace. By analyzing the Right to Education bill, we will be able to show the impact of education on growth and development.