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India is enriched with human power resources which can be enlightened and empowered through optimum utilization of education. Education is an important tool for reducing inequalities and poverty. It has a special quality, which gives benefits to the society as a whole. It ensures equitable economic growth. Due to Globalization, knowledge acquired through proper education becomes vital for meeting out international standards. The development of human capabilities and skill depends to a greater extent on quality education. The expenditure on education gives benefits to a Nation for stable economic growth, out space in technology and stability in economy. The technology and the human capital (value of human resources is referred as human capital) are the basic two components of knowledge, which are essential for a competitive economy. Higher education provides out space in technology and development of skills in human resources. Selection of a career or occupation of lifelong may be influenced by several factors such as social characteristics, family income, parental education and occupation, personal interest abilities and higher education.