By, D. Dhanuraj and Rahul V. Kumar
The paper examines the higher education scenario in India and attempts to point out why very few serious investors invest in higher educational sector. Several factors are responsible for this. Primary among these are the legal and legislative hurdles in several federal states. It is also seen that the bad precedent set by the existing institutions dissuade serious investments. These factors have led to specific problems for serious investors in this sector in India. The paper identifies these problems and suggests that a possible change in perception towards higher education would be most desired in the current milieu. Certain contours of change in perception are identified.
In India, education is in the concurrent list, where federal states and the central government share responsibilities. Until recently, legislations in higher education prohibited profit making in the sector. Higher education was defined as a not-for-profit sector.
The nodal ministry for education in India is the Ministry of Human Resource Development (MHRD). The MHRD has a Department of Higher education which is the apex department “for the overall development of the basic infrastructure of Higher Education sector”. The University Grants Commission (UGC) under the Department of Higher Education in the MHRD acts as the coordinator as well as prescriber of standards for education in the country.
Read the full paper here: Higher Education Report