Education and skill development

Education is a fundamental to skills development and growth. The human mind makes possible all development achievements from health advances and agriculture innovations to efficient public administration and private sector growth. Education is a tool to skill development. It is necessary for skill development. When the people are educated, they will be able to think better and apply innovations into the ways of doing things in the environment. The objectives of skill development is to create a workforce empowered with the necessary and continuously upgraded skills knowledge and internationally recognized qualification to gain access to decent employment and ensure India's competitiveness in the dynamic global market. According to International Labour Organisation, Skill development is of key importance in stimulating a sustainable development process and can make a contribution in facilitating the transition from an informal to formal economy. Skill development can help build a virtuous circle in which the quality and relevance of education and training for men and women fuels the innovation, investment technology change, enterprise development, economic diversification and competitiveness that economies need to accelerate the creation of more jobs. The Indian economy is widely expected to grow at sustained high rates over the next few decades and emerge as the second largest economy by 2050. The robust projection has much to do with the demographic profile of the country. However, in order to utilize this demographic dividend effectively, India needs to impart adequate and appropriate skills to its work force. The three dimensions of the reforms of higher education is the access, equity and quality. Access to higher education is to expand the gross enrolment rate, which is still lower than many other countries. Equity is important as it is important to bring the vulnerable groups within the scope of higher education. The attempt of this paper will be to reconcile the empirical study of the education sector as a determinant of sustained growth with special focus on skill development while 56% of the higher education institutes are devoted to arts, science, and commerce medical college, engineering and technology college and polytechnics comprise 10%, 7% & 6% of the total institutes respectively.