To study the educational institutions as manufacturing factories, input –output approach is justified, which should remove confusions in achieving efficiency in the utilization of financial resources.
To remove built-in inequalities (intra-generation as well as inter-generation) in India, we need to create the equality of opportunity coming from education, skills and jobs for men and women who needs to modify their mental makeup in present era of competition both healthy as well as unhealthy at all levels.
Through real education as a proper, productive and practical (3P) use of hands, heads ad hearts (3H), we can achieve morality, opulence, victory and empowerment to participate in socio-economic development with common sense.
(Dr. Madan Mohan Goel is Professor of Economics & Dean, Faculty of Social Sciences, Kurukshetra University, Kurukshetra. He has also authored a book titled ‘Economics of Human Resource Development of India’)