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Why India must invest heavier in school
But the private sector says they are ready to invest and the government should help them. There is a huge education-employability gap that the private sector can help fill but they would need subsidies. “IMD’s World Competitiveness ranking places India’s education sector at a dismal 59th place out of 64 countries, with only 45 per cent of all graduates being considered employable. Obviously, we cannot expect India’s government to bridge this education-employability gap by itself. It needs greater support from the private sector along with wider deployment of technology to ensure its goal of quality education for all is met,” said Dr Akhil Shahani, Managing Director, Thadomal Shahani Centre for Management. The union budget can facilitate this by reducing the GST rate for providing educational technology and ancillary services from 18 per cent to at least 5 per cent. In addition, it should allow private investors to set up schools and colleges with the ability to generate profits and equity returns. It should also allow foreign educational institutions to easily set up campuses in India, to promote healthy competition with local players. Collateral requirements for school and college educational loans should be reduced, along with interest rates, by public sector banks, to allow more families to afford the fees of quality institutions,” added Dr. Shahani.
Read Full Article: https://www.edexlive.com/news/2022/jan/28/why-india-must-invest-heavier-in-school-college-education-in-post-pandemic-union-budget-2022-27141.html