The children of Punjab are highly underprivileged, with close to no access to education. As every kid has the right to education, and deserves the highest level of proper education, it is sadly far from reality. However, with drives such as the Khalsa AID USA, it is slowly turning into a possibility. The Khalsa Care Foundation Gurdwara in California has taken up a huge role of educating children in Punjab, India, making sure that every child gets an equal chance at education and in life. There are a lot of economic benefits to investing in Punjab, as a little effort and support can mean a lot of prosperity not only in the region but the entire world! There are a lot of economic benefits, and most of them are:
Human Capital Development
With education, the human capital of Punjab shall increase exponentially. As education teaches and enhances the skills, knowledge, and productivity of workers of a specific field, this in turn also increases the human capital. With education, the workforce shall be fully equipped with the skills and knowledge of the latest trends and techniques, allowing them to adapt better to any advancements in technology in the future. This shall also allow them to contribute better toward the economy, as an effective worker is harmful to none. The current condition of education highly restricts this growth of children, as not many children get to fulfil their potential in the educational world. Allowing these children to study further ahead not only benefits them personally, but their contributions to the world shall allow for prosperity wherever they go.
Higher Levels of Income
The level of education and level of salaries are directly proportional, as workers with a higher education ask and deserve a higher salary. With a high salary, the quality of life and purchasing power also grow, which increases the cash flow in the community. All these factors are highly beneficial for the economy, as a higher cash flow means a larger collection of taxes, which in return are used for the betterment of the community. This shall also help in setting higher budgets for both the basic needs of a community and its luxuries, increasing the overall living standard of people. With the help of drives such as the Khalsa AID USA, education in Punjab can prosper well enough to allow the students benefiting from the help to be able to sustain the community themselves.
Rise in Employment Opportunities
With a rise in education, job opportunities in Punjab shall also increase as education teaches skills not found elsewhere. A higher level of education means that industries that require a high set of skills can flourish, taking the load off of dependency on lower-skilled jobs. This shall also open up space for people with a lower level of skill set to get jobs more easily as the workload shall be equally balanced, giving everyone an equal opportunity to earn. With a diverse market of employees, the unemployment rate shall plummet to a lower number, stabilizing the economy as well.
A Rise in Innovation and Entrepreneurship
Education is known to develop innovation and entrepreneurship in students, as education brings the abilities of critical thinking, better problem-solving, and more creativity. These skills allow people to start a new business venture, taking risks in the market. With these new businesses, job vacancies shall also increase, allowing for all sorts of opportunities for people in the community. Better education shall also bring technological advancements, allowing the economy to push towards the better, bringing forth a sustained economic development.
Reduction of Poverty and Income Inequality
Education plays a big hand in lowering the poverty rate, as an equal opportunity for everyone to get quality education means giving everyone a fighting chance to pull themselves out of bad times, allowing for a better quality of life. With access to education regardless of socioeconomic background, people also have an equal distribution of wealth and opportunities in the real world, with a proper chance to reach levels they first only dreamt of.
Increased Competitiveness Globally
A well-educated population has a higher fighting chance in the international market as well. Well-educated individuals can easily compete with people of the same field on a better level, increasing the interest of foreign industries to interact with them and conduct business with them. Countries with highly skilled individuals also attract foreign investors to set up industries within their regions, increasing the number of jobs, while also providing a significant boost to exports and foreign exchange earnings. On top of all that, a better portfolio of international business attracts industries of all sorts to tap into the market, serving as a win-win situation for all parties involved.
Better Health and Social Benefits
An educated society is more likely to make smarter choices in all aspects of life. This also involves health decisions. With more awareness and guidance thanks to basic education, educated people are more likely to make smarter and healthier lifestyle choices, reducing the number of chronic diseases, and supporting a decrease in healthcare expenses, allowing for the resources used in healthcare to be allocated elsewhere for the betterment of the society. Education also teaches certain aspects of life such as social cohesion, civic engagement, and such qualities, which are highly important for an economically stable society.
Economic Growth in the Long Run
Investments in education bring forth a long-term profit in the shape of a well-sustained society. With the efforts of a well-educated society and the advancements they make, the future generation meant to inherit it gets way better conditions and a lot more chances than before. Instead of creation, this means that their primary focus is to be on advancement, further enhancing what they already have while always making the world a better place for themselves and their future offspring.
Final Note
Investment in education brings about a lot of changes in every aspect of life. The one aspect that shall flourish the most is certainly the economy. With so many factors contributing to the advancement of society, it in turn allows society, and at the same time, the world to be the perfect place for everyone to live in.
