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Average income of an individual increases by 6.7% with every year of education in India: Study

According to the survey, females outperform boys in this respect, with each additional year of schooling resulting in an 8.6 percent increase in women's monthly earnings, while males receive a 6.1 percent increase.

Average income of individual increases by 6 7pc with every year of education Study gcw
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New Delhi, First Published Nov 16, 2021, 5:04 PM IST
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A recent report, 'Why the government needs to invest in young people's health, education, and well-being,' commissioned by the NGO Population Foundation of India, states that every extra year of education raises a person's annual income by roughly 6.7%. Based on secondary data research, it was discovered that each extra year of schooling in India raises a person's average salary by around 6.7%. According to the survey, females outperform boys in this respect, with each additional year of schooling resulting in an 8.6 percent increase in women's monthly earnings, while males receive a 6.1 percent increase.

The survey also discovered that every penny invested in completing a school education is predicted to yield an economic value ranging from Rs 4.5 to Rs 8.2 in terms of future earnings for each individual. According to the report, the entire cost of creating sufficient mental health facilities for teenagers over the next six years will be Rs 8,134 crore. According to the findings, an additional Rs 2,745 crore will be required each year to pay treatment expenditures. According to the study, the cost of supplying iron and folic acid pills to school-aged boys and girls and out-of-school teenage girls would be almost Rs 3,000 crore per year.

Also Read | People who sit a lot may suffer from depression, anxiety, claims study

Speaking on teenage mental health difficulties, Prime Minister's Economic Advisory Council Chairman Bibek Debroy stated a severe shortage of statistics since most instances are under-reported owing to the stigma associated with such illnesses. He also stressed the importance of moving quickly to capitalise on India's demographic dividend. Poonam Muttreja, executive director of the Population Foundation of India, emphasised the need to work together with various government and civil society organisations to promote adolescent development.

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