Educated guess: Growth course for better jobs

Written by fe Bureau | New Delhi | Updated: Feb 28 2013, 10:48am hrs
With a view to balance growth and inclusion, the Economic Survey has said that growth should lead to more and better jobs. It said education and skilling would be key to the growth of services sector that contributes more than 50% to the GDP.

Suitable higher education is important for high-end services such as IT, software development and finance. Mid-level services such as retail trade, hotels and restaurant services also require adequate skilling of the labour force, it said. This expenditure on social services increased considerably in the 12th Plan, with education accounting for the largest share, followed by health. Expenditure on social programmes increased from R9.1 lakh crore in the 10th Plan to R22.69 lakh crore in the 11th Plan.

The survey added that the educational system is overburdened by the sheer demand for quality education. According to TeamLease (2012), 80% of Indias higher education system of 2030 is yet to be built and is grappling with the threefold problem of cost, quality and scale.