Sunday, 18 February 2018

Demographic Advantage-Dividend or Curse?-Part-2


Though a large number of Engineering Colleges and Management Institutes have come up all over India, there are dearth of institutions for medical profession, both at professional level and support staff like nursing and hospital attendants. This is apart from very high fee for some private medical colleges, which make them out of bounds of common middle class. Moreover, there is not enough post-graduate seats available for general stream science students leading to shortage of teachers in colleges.

We often complain of inadequate health services infrastructure in the country. Can we improve it in absence of adequate number of healthcare professionals? We need to immediately address it. Investment in building quality health services infrastructure with the help of adequate number of healthcare professional will strengthen our position in research and earn precious foreign exchange by treating large number of foreign nationals. If our engineers can earn foreign exchange by exporting software services, our medical professionals can also earn equal amount of foreign exchange by way of providing services to foreign nationals at affordable rates.

Similarly, the increased post-graduate seats in general stream science courses will lead to strengthen our education system allowing our colleges to admit foreign students apart from curbing our students going abroad. We can become foreign exchange earner for providing educational services too.

The collateral benefit of health services and educational services exports is increase in incoming tourism flow, which again will give boost to hotels, airlines, transport services etc.

Thus spending on education in the fields of healthcare and general science stream can improve our foreign exchange inflows apart from giving employment to large number of Indian youths, which in turn increase the consumption levels leading to higher requirement of goods and services leading to further growth in jobs for youth.

Higher job creation  and higher income levels combined with higher consumption levels will lead to increased tax collections and need of lower subsidy requirements. This will automatically improve the fiscal position of Governments both at Centre and State level.

It is high time that Governments both at Centre and State level along-with responsible citizens awaken to make our country much better than what we are today by treating the expenditure on promoting healthcare and general stream educational infrastructure as a capital one instead of a revenue one, for its enduring nature of long-term benefits.

Contd.

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