Schools – The noble Business Institutions
Today India boasts of over 9 per cent growth rate, the promising growth indicators, skilled labor, industry development, technology transfer and so on. Well most of it, as we all know has been helped by the economic reformations that were brought in the beginning of the last decade of the previous century. In education sector also, there is a dire need of reformations and assistance by the private agencies to erect a more stable and progressive education system. School projects in India receive little attention and are seldom supported.
The primary and the secondary education have been under the strict control of the government and India is not an exception in this. Many countries and commonwealth nations consider education to be a vital institution, which must be looked after by the state. The involvement of private agencies therefore is very limited and controlled by the state.
But the education scenario in the country has compelled the government to ease up and give way to the private investors. The main reluctance of the government has been due to inhibitions as commercializing the education. The government has been wary of the situation as the affordability of the education by all and equal education opportunities to all. If school projects in India are well funded, education will receive a major endorsement.
Private Participation to be Encouraged
Private equity, venture capitalists and foreign direct investments have not been encouraged to invest in the primary and secondary education. That is why schools in India are owned and operated by either the government or the trusts/society based in India. To start or fund a school is a noble business and therefore private participation in school projects in India must be encouraged.
There are many acts and rules that govern the proprietorship or the ownership of the school. The affiliation laws of various boards have been amended to encourage the private agencies to shoulder the responsibility. For example the incorporation of the term “Company” in the CBSE byelaws and extension of the affiliation service to such agencies clearly shows the changing trend.
Schools have been exclusively proscribed for making profits or commercial interests of any specified individual instead of furthering the cause and mission of education. But, with situations going from bad top worse the grip on the schools has been losing and private players are all prepared to take it from there. Schools provide a noble business opportunity, unlike other trade sectors, and people are really interested to give it a fillip.