Education, Careers & Professional News
GDP spend on higher education remains at 0.37%
GDP spend on higher education remains at 0.37%
Despite all possible efforts and initiatives by the central government to promote spread of higher education in India, the percentage of its GDP spending on higher education in the last couple of years has remained stagnant at around 0.37% against 1.41%, 1.07% and 0.50% of US, UK and China respectively, according to industry body Assocham.
A paper on Future of Indian Higher Education brought out by Assocham also reveals that economies such as Japan and Korea also spends less than 0.40% of their GDP on higher education but 80% of their students seek their higher education through non-subsidised private educational institutions. In India, the higher education is highly subsidised and this is one of the reason that its quality of higher education is often questioned overseas.
More : economictimes.indiatimes.com