Uttarakhand’s Budget Trends on Education Financing and Human Capital: : A Decadal Review of Uttarakhand’s Education Budget(2008-2019)

Abstract

Education is one of the primary function  for the individual and social development as it enhances living standard and make person meet their abilities, possibility of developing intellectual at individual level as well as at social level. Educational development directly indicates the growth of region, state or country and reflects the socio-economic status of the population. Education is a significant standard for improving socio-economic condition and human capital development. Education is critical input in Human Resource Development Index (HDI). Sustainable Development Goal 4 is based on Quality education. Better Human resource fosters Social Justice, Social Well being and Social Stability and indirectly growth of the economy. High literacy rate correlates with low birth rate, low Infant mortality rate and increase in the rate of life expectancy. Each year government announced their annual Budgets with huge scopes of development. Furthermore, economic growth alone cannot be achieved by raising funds for employment, and reducing poverty. To cover the overall problem, government need to give more priority for education sector. Government need to raise budget for social sectors like education which is linked with economic growth and social development. The main aim of this paper is to assess the Budget expenditure on Education & extra-curricular activities in Uttarakhand since 2008 and to make comparison between the budget required for the education sector and  actual budget allocated.