Journal Press India^®

Author Details ( * ) denotes Corresponding author

Education plays vital role for human development. But unfortunately the annual budget allocation as percent of GDP in India is lower in comparison to the same in developing nations. To get a proper insight, the current paper makes a modest attempt to understand the spending pattern of Centre and States in general and of Odisha in particular. For this purpose, the study uses Union and State budget data from the year 1995 to 2016. Education continues to get an increasing allocation in absolute terms over the years, but as percent to GDP the allocation is not encouraging. The upcoming budget may focus on higher resources for education and spending towards building world class Universities and skill based education system to address the issue of unemployment.  ​

Keywords

Public Spending; Education; Odisha; Skill based

1. Azad, J. L. (1976). Financing institutions of higher education in India: The need for a realistic fee policy. Higher Education, 5(1), 1-7.
2. Bowman, M. J. (1966). The human investment revolution in economic thought. Sociology of education, 39(2), 111-137.
3. Denison E.F. (1966). Measuring the contribution of education to economic growth. In: Robinson E.A.G., Vaizey J.E. (eds) The Economics of Education. International Economic Association Series. Palgrave Macmillan, London.
4. Enders, J., & Teichler, U. (1997). A victim of their own success? Employment and working conditions of academic staff in comparative perspective. Higher education, 34(3), 347-372.
5. Erdem, E., & Tugcu, C. T. (2011). Investigating the macroeconomic and qualitative dynamics of urban economic growth: Evidence from the most productive Turkish cities 12. International Journal of Business and Social Science, 2(13), 136-145.
6. Finkelstein, A. (2000). Gerard de Malynes and Edward Misselden: The learned library of the seventeenth-century merchant. Book History, 3(1), 1-20.
7. Goldin, C. (2001). The human-capital century and American leadership: Virtues of the past. The Journal of Economic History, 61(2), 263-292.
8. Gounden, A. N. (1967). Investment in education in India. Journal of Human Resources, 2(3), 347-358.
9. Maqsood, F., Maqsood, S., & Raza, H. (2012). Getting higher education: Is it really a challenge for females in Pakistan? Academic Research International, 2(3), 352-360.
10. Post, D. (2011). Constitutional reform and the opportunity for higher education access in ecuador since 1950. Education Policy Analysis Archives, 19(20), 1-21.
11. Schultz, T. W. (1968). The rate of return in allocating investment resources to education. Economic Papers: A Journal of Applied Economics and Policy, 1(27), 40-55.