Universal education isn’t exactly universal. India, while enjoying one of the best performing economies in recent years, has extremely literacy rate. More than 35 per cent of Indians are illiterate, and more than 50 per cent of its female population cannot read. The problems begin in childhood. Half of Indian children do not go to school, and more than half of those who do drop out at the age of 11 or 12.

That’s why the new Indian parliament bill, which demands universal, free and compulsory education for all children aged between six and 14, has been hailed as a landmark law. 60 years after its independence, India is finally able to uphold education as a fundamental right, and to give children a better future, says Kapil Sibal, Ministry of Human Resource Development.

According to The World Bank, providing primary education to every child is a high priority for developing country governments and the donor community alike as education is the foundation of democratic societies and globally competitive economies.  To quote a scientific study by Appleton and Song, the estimated effect of an extra year of primary schooling on household income varies between 1–5% .

Ultimately, education is the most sustainable way of reducing poverty, increasing productivity, and strengthening the economy. To put it in Ben Franklin’s words, “An investment in knowledge always pays the best interest”. A landmark bill and a wise investment indeed.