Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Human Capital Formation in India

Question:

What does the percentage of "Education expenditure of GDP" express?

Options:

Importance of education in the scheme of things before the government

How much of people’s income is being committed to the development of education

Both of above

Neither 1 nor 2

Correct Answer:

How much of people’s income is being committed to the development of education

Explanation:

The expenditure on education by the government is expressed in two ways (i) as a percentage of "Total government expenditure" (ii) as a percentage of Gross Domestic Product (GDP). The percentage of "Education expenditure of GDP" expresses how much of people’s income is being committed to the development of education in the country.