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Effective and stimulating science education is fundamental for both the future of science and the ongoing development of our global knowledge society. Yet there is concern in the majority of countries that the overall level of scientific literacy is poor and that children are not being attracted to scientific studies and eventful careers as scientists. Given its mission of strengthening international science for the benefit of society, science education is an area of obvious interest. The need for a scientifically literate populace is increasingly recognized as critical in many countries, as they face the consequences of increasing population pressures, global economic depressions, limited resources and environmental degradation. There is a consensus that in many places around the world, science education is facing serious challenges. As countries face the demands of expanding populations under economic constraints, education as a whole is frequently one of the first areas in which funding is cut to free up resources for other, apparently more pressing demands. This trend is amplified in the area of science, since often those in political decision-making sector have limited appreciation of scientific disciplines and their importance to the vitality of their country’s economy. It is clear that developing countries face greater challenges in science education than economically developed countries due to lack of teaching materials including books, computing communication technologies, community-based science centers, laboratory facilities and equipment, as well as shortage of skilled teachers. Given this world scenario, and the needs of society, there is an urgent need to improve the preparation of scientists of tomorrow, not only through widespread access to quality instruction, facilities and research, opportunities for all students, but also to improve the economies. The paper is an analytical synthesis of the challenges bordering science education in a globally depressed economy, its prospect and indicative actions to revamp science education.