EDUCATION UGC NET
EDUCATIONAL POLICIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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2%
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4%
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5%
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6%
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Detailed explanation-1: -The Education 2030 Framework for Action endorses this indicator as a key benchmark for a government financing of education, allocating at least 4% to 6% of its GDP.
Detailed explanation-2: -The Economic Survey 2019-20 noted that the expenditure on education by the centre and the states as a proportion of the Gross Domestic Product (GDP) has been around 3% between 2014-15 to 2018-19. The National Policy on Education 1968 recommended the spending on Education to be 6% of GDP.
Detailed explanation-3: -The budgetary allocation for education as a percentage of total expenditure has dropped over the past seven years, from 10.4% to 9.5%, according to the Economic Survey 2022-23.
Detailed explanation-4: -Currently displaying rows 1 to 10. According to the World Bank’s database, Japan is the OECD country that spends the least – 3.1% of GDP – on education, followed by Ireland with 3.4%.