MRP Of Education Rising; Quality Remains Same
Indians are literally paying the price for the country’s declining education system. The National Sample Survey Office (NSSO) reported that between 2008 and 2014, the annual average expenditure for general education (primary level to post graduation and above) has hiked by a massive 175 per cent to Rs 6,788 per student.
During the same period, the annual cost of professional and technical education has increased by 96 per cent to Rs 62, 841 per student.
In April, IITs increased their undergraduate education program tuition from Rs 90,000 per annum to Rs 2 lakh per annum. Earlier last month, a lot of business schools including IIM Ahmedabad also increased the fees of their flagship two-year diploma programs. IIM Ahmedabad increased its fees from Rs 18.5 lakh to Rs 19.5 lakh.
Education loan is gaining popularity in the public domain in India primarily driven by the stories of high paying jobs for IIT and IIM graduates. The argument however stands that that if they earn so much after graduation, why they should not pay for their education.
The sorry state of India’s education system is no surprise. Private universities and colleges have cashed in on the money making scheme; where the education cost is increasing at a much higher rate than inflation.
According to the latest Annual Status of Education report, which assesses government schools in the country, nearly 20 per cent students surveyed from class 2 didn’t recognise the numbers between one and nine, and only 25 per cent of class 3 could do subtraction.
With public spending on education standing at a dejected low level of just 3.9 per cent of government expenditure, Indian parents are being forced to burn a hole in their pockets to ensure that their children can get a decent education.
