Education is the most powerful weapon which you can use to change the world -Nelson Mandela Education is an important investment in building human capital that is a driver for technological innovation and economic growth. The modern world is not only confined to modern science and technology, but it is also marching towards the process of liberalisation, privatisation and globalization (LPG). So as a consequence, relations are being established among science and technology, globalization and investment, and liberalisation. Globalization is no more a recent phenomenon in the world’s socio-economic system. The impact of globalization has been uneven and responses to it are varied in terms of its positive and negative dimensions the world over. People can only contribute and benefit from globalisation if they are endowed with knowledge, skills and with the capabilities and rights needed to pursue their basic livelihood. They need employment and incomes, and a healthy environment. These are the essential conditions which empower them to participate fully as citizens in their local, national and global communities. In this paper, the writer has focussed on giving productivity dimension to education and the need for reforms in the education system.