Finance is far more than mere numbers, the examination of profits. It is instead a knowledge of the written word and a diligence to comprehend that knowledge. Mastery of language is essential to succeed. There can be no victory without (at least) a basic awareness of letters and statistics, the understanding of how each affects the meaning of an economy. An education is therefore essential in achieving progress within a country. When individuals are forced to positions that are not worthy of their abilities – but are instead indicative of their literacy – the impact is devastating and immediate.
Indian economics are reflections of this immediacy. Until 2002, the majority of the population was denied an education; even one at a primary level. There were staggering percentages of illiteracy and low attendance within schools. And this was proven in the market. Skilled professions were limited. Positions were instead being filled by child laborers. And awareness of the native language itself was even not a certainty (keeping many workers from achieving even a hint of success. They could not propel themselves forward when they were unable to even read).
The desperation of this caused a reform within 2002 – in which it was deemed a fundamental right for all individuals to receive a basic education. This was known as the Eighty Sixth Amendment and its influence has been felt within the passing years.
Literacy rates have increased (though it should be noted that they are still below the global average). Female students are now encouraged to receive some form of schooling, allowing them to more confidently enter the workforce. And individuals are prepared for more challenging employments – allowing a stronger productivity to occur.
Through this Indian economics has been stimulated and is posed to continue its quick growth. The value of education cannot be denied. It must instead be embraced and recognized.