And this is only possible when efficient manpower utilizes these resources. Functional literacy, therefore, relates curriculum to the needs of expanding economy and to, the various needs that society has.
Another advantage of HDI is that it focuses on the ultimate objective of economic development and not only the means used to reach it. Economic reforms which included the decentralization of economic production, led to substantial growth in Chinese household savings.
Along with the development of professional and communication skills, literacy and education develop social skills by which an individual learns to move in the society and he realizes the importance of society, as no one can live in isolation. They both agreed that economic development is a more complicated and dynamic process than economic growth but both are no doubt interrelated.
The Human Development Index was created to showcase the average achievement of males and females. As earlier we stated, its termed as an increase in the real level of national output but this can only be caused by an increase in quality of resources, such as education, increase in quantity of resources and improvements in technology or increase in the value of goods and services produced by every sector of the economy.
It amounts to an investment in sustainable growth and prosperity.