Education can make following contributions in the national and economic development:
1. Education acts as infra-structure for economic development.
2. Education helps in the development of human resources through investment in education.
3. Education helps in developing work-values. It develops dignity of labour.
4. Education promotes technological revolution.
5. Education develops scientific or problem solving attitude.
6. Education removes gap between manual and mental labour.
7. Education results in proper exploitation and utilization of national resources and also helps in the development of economic resources.
8. Education helps in formulating national plans for economic development. Formulation of plans is possible only by experts in different branches of education. For example a person having good knowledge of agriculture can only formulate successful plan for agricultural development and only a good educationalist can draw good educational plans.
9. Education promotes entrepreneurial abilities like risk taking and managerial skills etc.
10. Education not only helps in increasing national income but also helps in equitable distribution of income and wealth in a country.
11. Education promotes industrialization through technological development, mechanization, new discoveries and inventions.
12. Education helps in better planning and policies of economic development. The implementation of plans cannot take place in the absence of proper knowledge.
13. Education motivates people for change. It also .helps in increasing production by evolving new methods and techniques by training people in different skills and by implementing these methods in our own institutions and conditions. It thus not only makes people mobile but provides job opportunities in different places and areas.
a. Education raises the aspiration level of people. Thus higher ambition promotes higher standard of living.
14. Education converts human resources into human capital. It helps in the development of skilled manpower. It prepares manpower to work in different fields through proper training and education. It thus not only makes people mobile but provides job opportunities in different places and areas.
15. Education creates proper atmosphere for economic development through widened outlook and multiple abilities etc.
16. An educated man can better take care of his own interests and get out of exploitation by others. Thus education evokes the people’s conscious against social and economic exploitation.
17. Education helps in bringing social change by breaking social taboos, old traditions and superstitions.
Till now education was treated as an end only. Now it has been proved that education acts as a means also. Education is investment in human resources as investment in steel or coal. Therefore, education must be given high priority in investment sector.