This paper estimates returns to education in India using a nationally representative survey. The paper has taken worldwide secondary data from Human Development Report (HDR) 2015 containing the HDIs of all 188 countries compiled in total as well as been segregated under their three HDI slabs, i.e. High, Medium, Low HDI Countries respectively. We try to analyze the contribution of education on standard of living based on the theory, an increase in education implies an increase in employment that further indicates the rise in income and then an increase in the consumption level. Here, consumption is taken as an indicator of standard of living.
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