The United Nations Educational, Scientific and Cultural Organization (UNESCO) has recently praised India’s allocation in the education budget. According to the report, between 2015 and 2024, India has allocated 4.1% to 4.6% of its GDP for education, which is in line with the international standards set by the ‘Education 2030 Framework for Action’. Under this framework, countries have been recommended to spend 4-6% of GDP on education.
In line with the 2030 target
According to a new report by the UNESCO Institute for Statistics, India’s public spending on education has ranged between 13.5% and 17.2% over the same period, which is in line with the Education 2030 target. This target encourages governments to spend 15-20% of public expenditure on education.
The report highlights that India’s education investment remains in line with international standards and is investing more than its neighbouring countries. Unlike countries like Nepal and Bhutan, which spend 4-6% of GDP on education, India’s spending is far higher than Afghanistan and Pakistan in terms of percentage of GDP and government expenditure.
Which country is spending how much
The report highlights that as a percentage of total expenditure, the world average is declining. Countries in Central and South Asia are investing more than in the 2010s. Other regions have seen a decline. In 2022, India’s spending on education as a percentage of GDP in Central and South Asia is only lower than Bhutan (7.5 percent), Kazakhstan (7.2 percent), Maldives (4.7 percent), Tajikistan (5.7 percent) and Uzbekistan (5.2 percent).
Compared to Asia as a whole, India’s expenditure is higher than countries such as China and Japan. Globally, the world average of public expenditure on education has seen a decline, falling from 13.2 percent in 2010 to 12.5 percent in 2020, with a significant reduction following the COVID-19 pandemic.
