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Explain how investment in education stimulates economic growth.

Answer: It is difficult to develop a causality of investment in education on economic growth. But the Seventh Five Year Plan correctly says that a large population can itself become an asset if it is trained and educated on sound lines. To understand this, let us take an example from real life. Almost all parents invest maximum on their children’s education. They know that if a child is educated properly, he stands a better chance of earning a livelihood so that he can spend a decent life. You will find many examples in which a child from a poor family entered the leading educational institution of India and thus could improve his and his family’s economic condition. It is important to remember that when a person excels in his chosen field and improves his income, he also contributes towards the economic growth of the nation. The data discussed in the previous question also reveals that investment in education stimulated economic growth

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