With encouragement of committed private players, permission to adopt maverick approaches to funding, and a thrust on knowledge creation, India will be all set to become an education super power within the coming decade. Says prominent educationist Sunil Karve. With a 6% share of world income and the fourth rank in Purchasing Power Parity, one can safely conclude that India has finally arrived. Over the last 50 years, the Government of India has provided full policy support and substantial public funds to create one of the world’s largest systems of higher education. On the science and technology side, India has churned out a large number of scientists, engineers and technicians who today rule the roost in intellectual hubs like NASA and the Silicon Valley. There is no doubt that India is extremely rich in intellectual capital that possesses a strong value system. In the year 2000 the adult literacy rate (% aged 15 or older) was 58.5 % (72.3 % for males, 44.4 % for all females). These figures have
nearly doubled since 1961 and are higher than in most other South Asian nations. were Rs Total 841.8 government billion (US$17.3 expenditures on education in 2001 billion), which was 13.2 % of all government expenditures and 4 % of the Gross Domestic Product (GDP). Since the 1950s, on as government have the Fig. 1. Plan Expenditure on Education in India have expenditures increased education
steadily,
number of educational institutions from the primary to the university level (refer Table 1). Table. 1. Growth of higher education in India Year 1950 2005 Universities 25 343 Colleges 700 16,885 Teachers 15,000 460,000 Students 100,000 9,953,000
Source: International Institute for Education Planning
Over the years, with the increase in population and literacy, the number of educational institutes for higher learning has also increased, but not sufficiently to meet the demand. The influx of private institutes has taken place