The country spent 3% of its total GDP on education in 2018-19 or about 5.6 lakh crore, the Economic Survey said.
“India ranks 62nd in total public expenditure on education per student and measures of the quality of education (pupil-teacher ratio in primary and in secondary education,” IMD said. This has resulted in a massive dip in India’s world talent ranking and the country is just ahead of four other nations in attracting and retaining top talent.
These countries include the UK, USA, Canada, Japan etc.Īcreage of summer crops down slightly so far at 65.29 lakh hectare Area under rice, oilseeds falls While India has chosen to not be a part of the Organisation for Economic Co-operation and Development (OECD), an international organisation of rich countries, which says it works to build better policies for better lives, many other developed and developing economies are its active members. According to OECD’s latest findings, India lags behind several other nations such as the USA, Chile, Mexico, UK, Korea, Israel etc in terms of total educational costs. In 2018-19, India’s educational spend had risen to 10.6% of the total government expenditure, the report showed. However in India, the same stood at 10.2% in 2016-17, centre and state combined, according to the latest Economic Survey.
In OECD countries, over 11% of the total government spending went to education, on average. Despite India being one of the largest economies in the world, the nation’s public education spending doesn’t touch even the average of the amount spent by the rich club. While a raging debate goes on whether Jawaharlal Nehru University students should pay more for education and lodging, or should the state bear their expenses, a recent data shows that India’s public spending on education is far less than that in the rich countries.