November 27, 2020

Role of education in economic development

It is a fact that without investing energy in the field of education, there is no possibility of being economically strong. Every rise in the figures of economic speaks the reality of the people who are working behind them.

Education helps the people in understanding the situation of people who are part of a particular nation ad their role as a citizen of that country. It gives you a sense of responsibility and makes you realize your role in the development of the country.

The history says that the countries that have strong economic base also have a strong foundation of the education system. If the people of the country are educated, then they know what makes the economy of the country can do grow. Education broadens the mind of an individual and also helps them in improving the quality of their life. And once they get into improving the quality of life, then there is no way of coming back. Education enriches society and individuals with social benefits.

Education promotes creativity and helps people in having technological advances. When new creative minds work together, they will make something useful and unique. And the advancement in technology is sign f being economically prosperous. Because so you can then do an export of your inventions at the global level and then the money you will get will increase your economical balance.

Education is also essential for the intellectual and spiritual growth of a person because it helps the person in growing as an individual. Along with technical knowledge, Muslims also pay attention to the spiritual growth of the person because they believe that if they are spiritually and mentally healthy, then there is no way of you coming back. In Muslim societies, Noorani Qaida for kids is their first step towards learning and seeking knowledge.

Importance of Education

In years back, it was considered that the rate of physical capital formation determines the progress of the economy. Still, later it was seen that the criteria are wrong because the quality of literacy is a vital factor to check the economic health of the country. Because education helps them people in learning new skills and in making the labour of the country useful.

If every single person in your country is educated, then it means that they have learned skills and they are going to benefit the particular field in which they have educated themselves. Education refers to the development of the human brain and the process of feeding people minds with knowledge. Suppose the nation fails to make its people skilful then who is going to take the responsibility of the country. Therefore, education has become an essential part of government policy.

Education has a lot of benefits that help in growing the economy of the country, and they are

Gives you the sense of gain and loss

The first and most important thing that helps in the sustaining of the economy is the sense of profit and loss. If the people of the country are unaware of their losses and of the sources by which they can gain, then how can a country grow economically?

If people who are educated and are working in different sectors they know how their business and company is doing. They can easily make the progress report of their company, and the same is the case with the financial information of the country.

The analysis report of income and expenditure helps you in working on the things that increase your earnings. And it is only possible if you know how the economy of the country matters in the progress of the country.

Helps you in utilizing the benefits

An educated person can quickly identify the services around him and can fruitfully use them. If people are uneducated, they will rarely see what is beneficial for them. If the country is rich in natural resources, then they can use them to make electricity and gas, which they later use it for their use and can export to others. It will not only be beneficial for fulfilling the needs of people but will also help you in earning through exports.

But this sense of thinking is usually earned from knowledge and education. Education broadens your mind ad gives you a vision which is the vision of creativity and thoughtfulness.

Helps in making the present and future bright

Education helps in the proper consumption of benefits for the expanded fulfilment at both individual and society level. The progress of a society always lies in the development of an individual because if one individual progress in the country, then he or she can change the present and future of the whole family. More educated people will come, and in this way, society and then a country will progress.