Merit Goods, Education Public Policy– India At Cross Roads

Abstract

Merit Goods have always received handsome attention and allocation from countries which have witnessed a congruence between high significant economic growth and Human Development Index (HDI). The Emerging Market Economies (EMEs) have become significant manufacturing hubs by universalizing education and improving their Incremental Capital Output Ratio (ICOR). Allocational priority to sectors like education, health and sanitation and their easy accessibility and affordability to people Below Poverty Line (BPL) hold the key to inclusive growth. The paper brings out how our poor development records in terms of Infant Mortality Rate (IMR), Maternal Mortality Rate (MMR), and Gini Coefficient can be substantially mitigated by better allocational commitment, high Research & Development, allocation, improvement in factor productivity and global collaboration.

KEYWORDS: HDI, ICOR, BPL, EMEs, IMR & MMR