Public Expenditure on Higher Education Infrastructure and Economic Growth of Haryana: An Analysis

Abstract

Education is the process through which a person's personality evolves in the desired way by embracing various topics according to their age and demands. It is one of the crucial elements in a nation's growth of its human resources. It is one of the most powerful tools for a person since it allows them to learn new things and helps them use those things in better ways. Economic development has always been credited as being greatly influenced by education. It gives the economy the necessary training and skilled labour force needed to effectively use its resources. As a result, improving education is the fundamental path to a nation's sustained economic prosperity. Education has long caught the interest of scholars, economists, politicians, and the government since it is a crucial part of human resource development.

The present study aims to examine the relationship between public expenditure on Higher education and economic growth of Haryana and Predicting economic growth based on public expenditure through appropriate model and examine the role of public expenditure in policy making decisions of the state government. Time-series data are heavily used in our work for analysis for the time period 2011-2021. The fact that time-series data has a temporal ordering, which sets it apart from cross-sectional data, is an evident feature. Economic time-series also meet the logical criteria for being results of random variables. The research initially describes the kind and scope of higher education infrastructure over the time period taken into consideration for the study to analyse the higher education infrastructure in Haryana.