How much money is spent on Food and Education

How much money is spent on Food and Education? In India VS in other Countries

Ssup Pzians? I hope everything is going well for everyone! Today, we will learn how much money is spent on food and education? India vs. Other Countries so, without further ado, let us begin. As you can tell by the topic’s name, we’ll start with the educational aspect.

Table of Contents

According to a recent World Talent ranking report by IMD, India’s public education spending is insufficient to either attract foreign talent or develop indigenous top brains. According to the IMD report, India spends less on education per student, and education quality remains poor in the country with a high pupil-teacher ratio in primary and secondary education.

This has resulted in a significant drop in India’s global talent ranking, with the country now only chasing four other countries to attract and retain top talent. According to the IMD, “India ranks 62nd in total public expenditure on education for each student and reforms of educational quality (pupil-teacher ratio in primary and secondary education).” According to the Economic Survey, the country spent 3% of its total GDP on education in 2018-19 or approximately 5.6 lakh crore.

Meanwhile, students at India’s Jawaharlal Nehru University, a world-renowned university and one of the frequently highest-ranking universities by the Government of India’s National Institutional Ranking Framework, are actively campaigning a recent fee increase.

Students have argued that education should be available to all and not just the wealthy. On the other hand, university students’ critics believe that taxpayers’ money should not go to scroungers.

While there is a heated debate over whether JNU students should pay more for education and accommodation or should the state cover their costs, new data shows that India’s investments in education are far lower than that of rich countries.

Even though India has one of the biggest economies, the country’s state education spending is nowhere near the average of the top club. On average, education received more than 11 percent of total government spending in OECD countries. According to the most recent Economic Survey, the same figure stood at 10.2 percent in India in 2016-17, for both the Centre and the states combined.

According to the report, India’s educational spending increased to 10.6 percent of total government spending in 2018-19. According to the most recent OECD findings, India underperforms behind several other countries in terms of total educational costs, including the United States, Chile, Mexico, the United Kingdom, Korea, and Israel.

While India has chosen not to join the Organization for Economic Cooperation and Development (OECD), an international network of rich countries that claim to work to create better policies for better lives, many other industrialized and underdeveloped economies are active members. These countries include the United Kingdom, the United States, Canada, and Japan, among others.

Let us now discuss the topic of food and how much money is spent on it in India compared to other countries.

As per the UN World Food Program’s “Cost of a Plate of Food” report, an Indian spends 3.5 percent of their daily budget on food, roughly equivalent to 0.6 percent for a New Yorker (WFP). According to the report, the priciest plate of food is in South Sudan, where people must spend 186 percent of their daily wage on basic ingredients. India is ranked 28th out of 36 countries.

Only eight countries around the world spend less than 10% of their household income on food. Four of these are in Europe: The United Kingdom is third at 8.2 percent, followed by Switzerland at 8.7 percent, Ireland at 9.6 percent, and Austria at 9.9 percent.

The remaining four countries are scattered around the world. The United States spends the least, at 6.4 percent, and Singapore spends the second-least, at 6.7 percent. Canada spends 9.1% of its GDP on food, while Australia spends 9.8%.

Nigeria spends more than half of its domestic income on food, and nine other countries spend more than 40%. The figures do not imply that food in Nigeria is more costly than in the United States. In fact, the opposite is true. The average American spends $2,392 on food per year, while the average Nigerian probably spends that: $1,132. Kenyans pay an estimated $543 per year on food.

Within a country, however, there can be significant disparities.

Over the last 25 years, the poorest 20% of US households spent 28.8 percent to 42.6 percent on food, compared to 6.5 percent to 9.2 percent expended by the world’s richest 20% of households. Food accounts for only 6.4 percent of American monthly income.

That is according to the most recent figures gathered by the United States Department of Agriculture (USDA). In general, the lower the percentage of household income spent on food, the more developed the country.

CONCLUSION:

So here was how much money is spent on Food & Education? In India VS in other Countries. I hope this knowledge of expenditure is useful to you.

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