- Posted March 24, 2014 by
Stable Outlook in Indian Education Sector
India is a large country with a massive population. The major portion of this population comprises of youth which is the biggest asset for any nation. It has been predicted through sound surveys that by 2020, India would be the nation with most adults in the world with an average of 29. This would serve as the biggest potential for the country because a large number of youth would mean large number of people in the workforce to serve the as the strong backbone and lifter of economy.
India’s Education Sector:
The sole hope for making the country prosper and giving the right platform to the youth of this nation, the country needs to establish and provide a state of the art educational infrastructure to the country. For this purpose, earnest efforts are being taken in this regard by the government and higher education authorities of India. Several initiatives have been taken by the government which include the much acclaimed, Right to Education Act, , Rashtriya Uchttar Shiksha Abhiyan (RUSA) and other such initiatives. They have been made possible through the efforts of higher education board in India and the government co operation hand in hand.
Current Education Infrastructure:
Currently, the country has around 1.4 million schools and over 36000 colleges. This number is not satisfactory because there is an ever growing demand of establishing new schools, colleges and universities in the country. Currently, there are at least 250 million students in schools and around 27 million students in higher education. With time, this number will keep growing on a massive scale which calls for the development of educational infrastructural development.
India’s Education Sector Rating:
A renowned research company in India, named India Ratings and Research Pvt. Ltd. has conducted a research and found out that India education sector has stable outlook and the sector looks prosperous with the prospects of great boom in it with time. As per the research of the rating agency, the India education market is considered to be worth Rs 5.9 trillion in the year 2014-15. It was estimated to be Rs 3.3 trillion in 2011-12 which depicts a very rosy improvement in the sector. Moreover, the estimated intake of course at all levels, including undergraduate, postgraduate and diploma has also grown significantly by 19.8%.
Expediting the availability of education loans to the students:
In an attempt to improve the education sector of the country and enhance the worth of this sector even more, the government has ensured it will pay the interest amount of all eligible education loans that were acquired in between the duration of 2009 to present date. This is an attempt to expedite the education attainment process by under privileged having the passion for education.
Government spending on education sector:
Looking at the prospective outlook of the sector, the government has increased the spending in this sector by a considerable amount. In between the year 2005-2012 the education sector spending in the rural areas have increased annually by 14.8%, whereas for the same period, the spending in the urban area education sector increased annually by 14.62%. These figures are a good initiative but there needs to be more sending done in this significantly important sector.