Role of Higher Education In Economic Development (Special Reference Of Private University in Lucknow District)
In the 21st century education is becoming the most important resource for economic and social development of countries, improving well-being and individual development of citizens. Education in every sense is one of the fundamental factors of development. No country can achieve sustainable economic development without substantial investment in human capital. Education enriches people’s understanding of themselves and world. It improves the quality of their lives and leads to broad social benefits to individuals and society. Education raises people’s productivity and creativity and promotes entrepreneurship and technological advances. In addition it plays a very crucial role in securing economic and social progress and improving income distribution. Indian higher education system is the third largest in the world, next to the United States and China. Since independence, India as a developing nation is contentiously progressing in the education field. Although there have been lot of challenges to higher education system of India but equally have lot of opportunities to overcome these challenges and to make higher education system much better. It needs greater transparency and accountability, the role of colleges and universities in the new millennium, and emerging scientific research on how people learn is of utmost important. India need well skilled and highly educated people who can drive our economy forward. India provides highly skilled people to other countries therefore; it is very easy for India to transfer our country from a developing nation to a developed nation. With the increase in population, there has been surge in the number of students seeking admission in Private Universities and colleges for higher education. In the field of higher education in India, there was the time when population of the country was much lesser and higher education was accessible to all and everyone but today it is mushrooming in each and every nook and corner of India. The current study aims to highlight the role of higher education in economic development (special reference of private university in Lucknow District).
Keywords: Education, Opportunities, Challenges, Colleges, Universities.