Report on a Policy Frame Work for Reforms in Education, Special Subject Group on Policy Framework for Private Investment in Education, Health and Rural Development, Prime Minister's Council on Trade and Industry Government of India New Delhi April 2000

Education imparts knowledge and skills and shapes values and attitudes. Education is vital for progress of a civil society. Education is universally recognised as an important investment in building human capital. Human capital affects growth in two ways. First, human capital levels act as a driver of technological innovation. Second, human capital stocks determine the speed of technology. It is now widely accepted that human capital, and not physical capital, holds the key to persistent high growth in per capita income.