deregulation of Technical Education

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has called for de-regulation of the higher and technical education sector. The approximate outflow of foreign exchange from the sector is Rs.50000 crores annually.About 1,20,000 students leave India and go abroad to pursue their studies resulting in losses equivalent to the aggregate expenditure of building 40 IIMs and 20 IITs. The Government spends Rs.91000 crores annually on Education which is only about 13% of the total demand of higher education in the country. The expenditure on Education is about 8% of the GDP out of which 3.3% is borne by the Government and 4.7% by private entities.