This question is asked by truth seekers and many others from the beginning since ages together. It is answered or explained from various angles.  

Famous Psychologist Maslow enumerates pyramidical hierarchy of needs, 1. basic physiological needs 2. safety needs 3. love and belongings need 4. self-esteem needs 5. self-actualization. 

In Hindu shastra it is said, there is three ever deepening evolutionary purpose that culminates in living several human lives together. First, physical/ sensual gratification or objective pleasure; second, removing sorrow and suffering thus moving into joyful living; third, moksha or liberation from birth-death cycle while blissful living. Many believes other worldly or heavenly happiness after death as per karmic fruit also. 

In another interpretation, it is explained as obtaining seven Sukhas that culminates to Mahasukh. Those are 1. su-sasthya 2. su-samparka 3. su-sampatti 4. su-santan 5. su-samman 6.su-sanskari nara-nari 7. swadeshe basabaskari; and finally, mahasukh that is ‘samadhi’ experience. These can be further explained in objective and subjective/ holistic mode. 1. Su-sasthya is not only absence of physical disease but integrated wellbeing of physical-mental-emotional-social aspects of life. 2. Su-samparka that not only extol self-esteem but also includes amiable relationship in shanta-dasya-sakhya-batsalya-madhur, different types of bhabas  3. Su sampatti is not accumulation of just meterial property or prosperity but includes sat-sampatti I.e., sam-dam-tittiksa-uparati-sraddha-samadhan 4. Su-santan is not just good looking and lamp some earning ward rather disciplined and values inculcating human being 5. su-samman includes Self-respect or atma samman along with social respect etc. Etc. 

From another angle, purpose can be explained as roti-kapra-makan, sukh-sammriddhi-samman, shanti-swatantrata-samadhan, prem-ananda-nirban I.e., physical, mental-intellectual, emotional-soul and spiritual aspects of evolutionary objective to subjective fulfilment of human living. 

Finally, the purpose of human life can be said as purposeless purpose, or just living in the now and here mode while accepting or surrendering or witnessing and becoming aware of whatever is happening in life at perpetual present like blood circulating, breathing from birth to death. In this concept, all human beings and nature are participating in a cosmic drama, dream, play or game that is going on without any motive and we must return to the source of nameless, formless, changeless spiritual entity ultimately completing unevolutionary/ evolutionary cycle, or must discover the director essentially realizing self or experiencing essential spiritual/ cosmic unity within and without. 

Recently the Central Government has changed the education policy in which any student can opt or choose any subject from any stream. But the question is, are we just qualifying the students or educating them? It is said that no student can be taught unless s/he wants to learn, thus, a teacher cannot teach a student, s/he can help a student to learn. 

In the present education system, students of different IQ or intellectual capability must go through same syllabus and subjected to scoring and competing for qualifying themselves in earning high currency job. On the other hand, the education system should also provide character building, human values developing content that is to be inculcated rather imposed through value education theoretical curriculum. How to address these two conflicting approaches? 

First, there should be grade giving extra-curricular activities that are chosen from various disciplines by students such as sports (indoor and outdoor), arts (painting, acting or anything that is willingly chosen), instrumental or vocal music and silent non methodical meditation etc. 

Second, teaching procedure should include doubt clearing Q and A session daily rather examining at the end of semester. Students should be encouraged to develop a willingness to learn rather than be bombarded with lectures, topic after topic, while completing the syllabus. 

Third, there should be time to contemplate before and after the lecture to avoid last moment mugging up and vomiting in the examination. 

Fourth, teachers should give marks for the behavior of the students in which average marks can be added to prepare for final grade. 

Of course, there will be impediments in implementing these ideas in prevalent system, yet policy makers should widely discuss and debate to develop an integrated curricula that includes self-developmental process along with social or objective development.