National Institute of Technology, Warangal organised a guest lecture on ‘Importance of Higher Education in Economic Growth’ on November 16, 2016. Prof. K Nageswara Rao, Editor, Hans India delivered the guest lecture.
Addressing the students, he pointed that the cause of poverty is inequalities which are prevalent in society. One form of inequality often leads to another kind of inequality. He further added that according to Amartya Sen, development leads to five kinds of freedom which include protective, internal, participatory, transactional and procedural. Internal freedom deals with the ability to think rationally.
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He exhorted that for the first time education has acquired such a transformative character. However, contemporary education has gained a distinction for its liberation capacity. Currently, the world is going through a phase of the knowledge economy.
He cited the example of Sundar Pichai, CEO of Google and stated that Pichai hailed from a middle-class family and he rose to the position of Chief Executive Officer (CEO) of Google. He was a student of Indian Institute of Technology, Kharagpur. Without higher education, it would not be possible for him to raise up to the position of CEO. Hence, higher education is necessary for the career development as well as economic growth.
Referring to a demographic dividend, he explained that 66 percent of the population in the country would be in productive age group by the year 2050. Stressing the importance of higher education, he concluded that “Ability determines employability rather than one’s parental background”.