A STUDY ON THE GROWTH OF PUBLIC EXPENDITURE ON HIGHER EDUCATION IN INDIAN ECONOMY

Abstract

This study is an economic study that examines the impact of government expenditure on higher education in India. The concepts of learning and development are interrelated; Learning leads to growth and development provides a forum for better learning. Educational support is beneficial for everyone as it facilitates access to better jobs and employment. Therefore, it also offers opportunities for poor groups to improve their social economies and reduce poverty and income inequality. Higher education improves skills and job opportunities and reduces the risk of long-term unemployment. Education also contributes to society by providing social and economic opportunities, especially in a world where technology and digitalization drive innovation. Therefore, education has many features that require a multidimensional approach in analyzing data. From a microeconomic perspective, higher education will increase an individual's salary in the labour market, thus increasing the rate of return on education. Various important documents published by the Ministry of Human Resources and Development (MHRD), such as the Expenditure and Education Options Survey (SES) and the University Grants Commission Annual Report, provide data for this study.

Keywords: Budget Expenditure, Economic Growth, Human Capital, Higher Education, Plan Expenditure, Revenue Expenditure, Social Expenditure and Technical Education.