Home
Class 12
ECONOMICS
‘Education Commission 1964-66 had recomm...

‘Education Commission 1964-66 had recommended that at least 6 per cent of GDP must be spent on education’. How far India has been able to achieve the said goal?

Text Solution

Verified by Experts

Investment in education system in India has been a woeful failure. The fact of the matter is that, in 192 we were spending a meager 0.6 % of our GDP on education that rose to only 4% in 2014. This has fallen well short of 6 % target as proposed by the Education Commission, 1964. Moreover, throughout this period the increase in education ependiture has not been uniform and there has been irregular rise and fall.
This shows the apathy of the government towards investment in the education system. One can imagine, if the recommended 6 % p.a. of the GDP would have been spent properly the present education system would have reached unforeseen heights.
Promotional Banner

Topper's Solved these Questions

  • SAMPLE PAPER 2019

    XII BOARDS PREVIOUS YEAR|Exercise Section - B (Indian Economic Development)|21 Videos

  • OUTSIDE DELHI 2015

    XII BOARDS PREVIOUS YEAR|Exercise OUTSIDE DELHI 2015 - SET III|7 Videos

Similar Questions

Explore conceptually related problems

Crisis of June 1991 Major elements of the crisis situation which led the Government of India to announce economic reform were : .A serious fiscal crisis in which the fiscal deficit reached the level of 6.6 per cent of GDP in 1990-91. Heavy internal debt which rose to about 50 per cent of GDP with interest payments draining about 39 percent of total revenue collections of the central government. Low GNP growth rate which fell to 14 per cent from the peak level of 10.5 per cent in 1988-89 (at 1980-81 prices). Low overall agricultural production, foodgrain production and industrial production showed negative growth rates of -2.8 per cent,-5.3 per cent and -0.1 per cent respectively. Soaring inflation rate based both on wholesale price index and consumer price index (for industrial workers) at 13-14 per cent Shrinkage of foreign trade, imports (in terms) fell by 19.4 per cent and exports by 15 per cent. Depreciation of rupee by 26.7 per cent vis-à-vis US dollars. Fall of foreign exchange reserves to such a low level that they were barely adequate to meet the import requirements of a few weeks Non-resident Indians (NRIS) were withdrawing their deposits at an alarmingly high rate The confidence of the international financial institutions was badly shaken and in just over a year its creditworthiness rating fell from AAA to BB+ (put on credit watch). The country was on the verge of defaulting on international financial obligations and the situation warranted immediate policy action to save the situation. In May 1991, the Government had to lease 20 tons of gold out of its stock to the State Bank of India to enable it to sell the gold with repurchase option after six months. In addition, Reserve Bank of India was allowed to pledge 47 tones of gold to the Bank of England to raise a loan of $600 million Name one component of business environment affected in the above case. Explain it briefly

Crisis of June 1991 Major elements of the crisis situation which led the Government of India to announce economic reform were : .A serious fiscal crisis in which the fiscal deficit reached the level of 6.6 per cent of GDP in 1990-91. Heavy internal debt which rose to about 50 per cent of GDP with interest payments draining about 39 percent of total revenue collections of the central government. Low GNP growth rate which fell to 14 per cent from the peak level of 10.5 per cent in 1988-89 (at 1980-81 prices). Low overall agricultural production, foodgrain production and industrial production showed negative growth rates of -2.8 per cent,-5.3 per cent and -0.1 per cent respectively. Soaring inflation rate based both on wholesale price index and consumer price index (for industrial workers) at 13-14 per cent Shrinkage of foreign trade, imports (in terms) fell by 19.4 per cent and exports by 15 per cent. Depreciation of rupee by 26.7 per cent vis-à-vis US dollars. Fall of foreign exchange reserves to such a low level that they were barely adequate to meet the import requirements of a few weeks Non-resident Indians (NRIS) were withdrawing their deposits at an alarmingly high rate The confidence of the international financial institutions was badly shaken and in just over a year its creditworthiness rating fell from AAA to BB+ (put on credit watch). The country was on the verge of defaulting on international financial obligations and the situation warranted immediate policy action to save the situation. In May 1991, the Government had to lease 20 tons of gold out of its stock to the State Bank of India to enable it to sell the gold with repurchase option after six months. In addition, Reserve Bank of India was allowed to pledge 47 tones of gold to the Bank of England to raise a loan of $600 million State the explain one feature of business environment as reflected in the above para

XII BOARDS PREVIOUS YEAR-SAMPLE PAPER 2019-Section - B (Indian Economic Development)
  1. ‘The latest demonetization of currency was undertaken by the Governmen...

    Text Solution

    |

  2. Identify the correct sequence of alternatives given in Column II by ma...

    Text Solution

    |

  3. Agriculture marketing does not comprise of "……………..…" (a) Transporta...

    Text Solution

    |

  4. Under "………………………"type of unemployment, marginal product gained by empl...

    Text Solution

    |

  5. "…………………………" an indicator which is used for analyzing the employment s...

    Text Solution

    |

  6. In 1955, Karve committee was constituted for aiming the"…..……………"

    Text Solution

    |

  7. Identify the correct sequence of alternatives given in Column II by ma...

    Text Solution

    |

  8. Solar energy can be converted into electricity with the help of "……….…...

    Text Solution

    |

  9. Arrange the following events of China in chronological order and choos...

    Text Solution

    |

  10. Introduction of Economic Reform in Pakistan took place in"……………"

    Text Solution

    |

  11. “Recently Indians have drifted away from the traditional knowledge and...

    Text Solution

    |

  12. ‘Power sector in India has major issues with its installed capacity’. ...

    Text Solution

    |

  13. ‘Education Commission 1964-66 had recommended that at least 6 per cent...

    Text Solution

    |

  14. ‘The opening up of the Indian Economy has led to a rapid increase in F...

    Text Solution

    |

  15. Define the following terms (a) Disinvestment " " (b) Import Subst...

    Text Solution

    |

  16. Define the following terms (a) Outsourcing " " (b) Quota

    Text Solution

    |

  17. Answer the following questions on the basis of the following data : ...

    Text Solution

    |

  18. “Rural Economic development is essential for Indian Economic developme...

    Text Solution

    |

  19. ‘In spite of the increase in public health expenditure Indian Health S...

    Text Solution

    |

  20. Study the following chart showing the Growth of Employment and Gross D...

    Text Solution

    |