Abstract
Education and technology progress together made 42 percent contribution to growth in national product, this research explains the role played by skilled persons and technology in increasing the national product and ultimately in promoting economic growth. Expenditure on education is to be considered as an investment, like investment in physical capital because it increases productivity of the labour which contributes to growth of natural income of country. Educated workers get higher wages which benefit not only the individual but also to the society as a whole. Higher productivity leads to higher income, higher output and higher standard of living.
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