Answer: It is a fact that an educated person earns higher income than an uneducated manual labourer. In a factory, a shop-floor worker earns much less than people at managerial level and this difference is because of difference in skills and education. To understand it better, we can compare the situation in India with that in Ireland. It is said that Ireland is a country which uses its knowledge economy very efficiently. If India begins to use its knowledge economy as efficiently as Ireland does then its per capita income would improve from current level of $ 1,000 to $ 3,000 by 2020. This illustrates why education is considered to be an important input for the development of a nation.
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