The study also found that each rupee invested in completing school studies is expected to generate an economic benefit of between 4.5 and 8.2 rupees in terms of each individual’s future income.
Each additional year of education in India increases a person’s average income by about 6.7%, according to a new study that noted that this return is higher for girls than for boys. The study was commissioned by the NGO Population Foundation of India, on why the government should invest in the health, education and well-being of young people. Based on an analysis of secondary data, it was found that each additional year of education in India increases the average income of a person by approximately 6.7%.
“This return is greater for girls than for boys. Each additional year of education translates into an 8.6% increase in the monthly salary for women, while for men the figure rises to 6.1%, ”she said. The study also found that each rupee invested in completing school studies is expected to generate an economic benefit of between Rs 4.5 and 8.2 in terms of each individual’s future income, he said.
The study puts the total cost of establishing adequate adolescent mental health facilities at Rs 8,134 crore over the next six years. According to the results, another million rupees per year would be needed to cover the costs of the treatment.
He predicts that the cost of providing iron and folic acid tablets to adolescent boys and girls in school and adolescent girls outside of school would cost around 3,000 crore per year. Speaking about the mental health issues teens face, Prime Minister’s EAC Chairman Bibek Debroy said there was a serious lack of data given that most cases go unreported due to the stigma surrounding these issues.
He also spoke of the need to act quickly to realize India’s demographic dividend. “Beyond 2035 or so, India will start to age. What’s even more important is that our policies on people entering the workforce are correct, ”said Debroy, who published the study Monday.
Poonam Muttreja, Executive Director of the Population Foundation of India, highlighted the need for collaborative action between different branches of government and civil society organizations to work for the development of adolescents.