'Higher education sector spending to be Rs 1.50L cr in 10 yrs'

Updated on: Friday, November 12, 2010

Higher education expenses in the country is projected to go up from Rs 46,200 crore at present to Rs 1.50 lakh crore in the next 10 years, said a study released here today.

The report prepared by Ernst & Young in association with FICCI said possibilities like diversity and collaboration hold the key for changing India's higher education system into a system free from the primary challenges.

The report titled 'new realities, new possibilities --the changing face of Indian higher education' was released by HRD Minister Kapil Sibal along with UK's Minister of State for Universities and Science David Willets and others at the FICCI-organised 'higher education summit' here.

While noting the substantial participation from the private sector and growing interest from foreign players in the higher education sector, it said, "there is a need to align supply to the changing needs of students".

It observed that growing global integration and changing macro-economic trends are influencing the composition and preferences of students, leading to new demand-side realities.

These include increasing spending on education, new categories of students, willingness to pay for academic quality, increasing demand for global education and demand for employability-linked education.

The government, it said, has played a key role in augmented supply in the higher education sector through enhanced funding and by setting up new institutes.

'Higher education sector spending to be Rs 1.50L cr in 10 yrs'

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