 New Delhi: There is an anxious wait for the details of the bill allowing universities and institutes from abroad to set up campuses in India. Reforms in education sector are long due and the federal cabinet’s decision is eliciting varied response. Some of those entrusted with conducting higher education in the country are gung-ho as they feel new arrivals will infuse fresh ideas and energy into the quarter that has become somewhat lethargic over decades for want of incentives and challenges. Some others feel threatened probably because the entities from abroad might come to India with huge financial and academic resources. Avalanche they expect and fear being nudged into the category of laggards.
Columbia University opens its Global Center in Mumbai on March 22 to provide a base for ts departments
It is too early to expect a consensus, if at all it ever emerges. Yet the only disagreement at this stage seems to be over the direction of correlation between the arrival of foreign entities and its impact on the state of the Indian seats of higher education. The most obvious question that is emerging is, will the premium higher education that these institutes are expected to deliver be affordable for the masses? There is a genuine concern that their arrival might lead to increase in the fees the existing top universities and institutes in India charge. Imparting quality education involves cost in the form of infrastructure — physical structure and human resources — and Indian organisations will have to spend to stay competitive. Higher fees seem to be fait accompli in the coming years. The problem could be solved if higher education, private as well as public, is treated as an investment in the future of the youth and the nation. Those individuals who have done so and been able to invest, thanks either to their family background or income-based advantage, have reaped the benefit and been able to pass it on to their children. In knowledge economy it is imperative society ensured unhindered entry to higher education to all those who qualify for and commit themselves to its rigours. Education in India is as big a zone, if not bigger, for these institutes as the manufacturers from abroad have been discovering the Indian market to be since the early 1990s. Multinationals came in droves to set up manufacturing facilities here and sell their products, from fried potato luxury sedans, here and export them too. Little surprise if more than 50 institutes are waiting to enter India and these include names of repute like Columbia and Duke. The reason is simple, the aspiration level of the resurgent India is huge. The urge for premium education always existed. While in the past only the rich could afford to send their children abroad, today even the middle and lower income group wants to avail of this facility and if premium education is available next door they will not hesitate to borrow funds to make it available to their children. In essence, the success of making premium higher education accessible to the masses will depend on the funds available with the parents and students. Unfortunately education loan is among the costliest ones in India. Even personal loan for cars and white goods is cheaper. The government has obviously fanned consumption which has had a positive impact on the economy so far. No issues on that count. Given the aspirations and potential of the young talents, it is time the government listed education as a priority lending sector just as it has accorded the status to agriculture and small scale industry. In today’s economy, education can’t be anything less than the top priority. Education requires extended policy of refinancing and subsidised credit. Tax exemption on education loan, just as it happens on home loan, needs to be introduced to encourage and enable parents to invest in their kids. Our youths are entitled to premium higher education. Source: Pradeep Mallik , After about 20 years in journalism, Pradeep Mallik thought he had seen it all. How wrong he was...
pradeep.mallik@timesgroup.com
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