My opinion on this general debate is neither here not there but I must call you up on your assertion that India is spending a lot on its population:

> For example the budgetary allocation in current year for Rural Infrastructure is ~ 13 billion USD, Education is ~ 6 billion USD [1].

That's really not a lot! The UK spends about 150 billion USD on education each year, which is about 2300USD per capita. Dividing 6bn by the population of india at 1.2bn, that's 5USD per capita.

That is to say, the UK spends 460x as much per person on education as India. And people would say the UK can't afford a Mars mission at the moment!