Abstract

Objectives: The paper is intended to discuss the relationship between education policy and economic development in India, to analyse the present scenario and to provide some suggestions for their reciprocal development.

Method/Statistical Analysis: Data from credible official sources have been used and analysed through suitable tables and graphs using descriptive statistical tools like percentage, ratio-proportion and mean to examine whether our education system fulfils the present requirement and addresses the demand of day or whether some modification is required in it. A correlation between the education and economic development has been established to show that there is a reciprocal relationship between them.

Findings: The Education policy needs to be revived in accordance with the present requirement. The education must be diversified and be linked with the economic development of the country. Apart from fulfilling its basic requirement, the education must be able to develop the human capital as potential source of GDP for the country. Linking education with employment, micro management of real time problems, sustainable increment in public spending on education, learning from other countries are some of the ways which may bring out the desired change in the education system and simultaneously push the country towards economic development.

Applications/Improvements: Modified education policy, as discussed here, may result in exponential economic growth, which, in turn, may provide more financial resources for education and may lead India to become a developed country.

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Abstract

Objectives: The aim of this study is to provide some suggestions as to how Durga Puja can benefit Indian economy optimally and contribute simultaneously for the welfare of the people.

Method/ Statistical Analysis: The findings in this study are based on the data collected during the Durga Puja, 2018 in Kolkata, interactions with the Puja Samitis, people from public and Government agencies, articles and reports published in the contemporary media and the information gathered from official records. Comparison of the size of the Durga Puja economy has been made with the budget estimates of Government of West Bengal and various Centrally Sponsored Schemes.

Findings: If Durga Puja is organized in the manner as suggested in this study, it may result in real time development of the people as well as economic growth of the country, which may ultimately lead India to become a developed country. The time has come when the Government may step in to play a proactive role in organizing the Durga Puja festival. Durga Puja is the best time to promote the culture and tradition of West Bengal throughout the world. If organized properly, Durga Puja festival may enhance tourism manifold, which is beneficial for the people & economy of India. The size of the Durga Puja economy is much higher than the budget estimates of various Centrally Sponsored Schemes being run for welfare of the people, including some flagship programmes. Therefore, if Durga puja is managed properly and it is linked with various centrally sponsored schemes, it may not only benefit the economy of India but also accelerate the welfare of the common people of the country.

Applications/Improvements: As suggested in the paper, Durga Puja economy, in convergence with the main Centrally Sponsored Schemes, can contribute towards the welfare of people and take our economy to scale new heights.

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