Of course, there are enough success stories of the IIT-ians who are the brightest of the bright that India produces that fuels the competition to get that coveted degree on one’s resume.
The competition is so severe and the stakes so high that people can go to any length to get themseves past the finish line. Kota in Rajasthan has become the most important center for such training. Some of the teachers are paid as high as Rs. 50 lacs to Rs 1 crores. Quite obviously, it would seem that the establishments are making enough to pay that high sums as salaries!
Now, comes the estimation of the bounty that is being made – Rs.100 billion ($2.30 billion) a year! By some estimation that is enough money to run 30 to 40 IITs in the country! So, instead of using that money to provide the education.. the society is spending that money just to compete for that education!
When the existing IITs cannot even pay their professors the monthly salaries.. and small institutes preparing kids to study under those very professors are minting enough money to create 5-8 times more such institutes – salaries & infrastructure put together…. then quite obviously something is extremely wrong!
The one obvious question that comes to the mind is should education be completely privatised and opened? Let the businesses bring the funds to actually impart the education instead of making money in just preparing kids. Today, the open-ness in the Indian education system is a farce! Even the Indian School of Business gives a certificate and not a real degree or even a diploma, from what I have heard.
The future of India is going to be driven by the education and we cannot lag on this front. Those who can pay the money should be made to pay .. but for quality education. The poor and disadvantaged should be provided grants and aid by the Government to study in such places. With more institutes, the competition should come down.. and quality should improve.
What do you think?
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