Why is the government stepping up expenditure in the education sector?
To attain cent per cent literacy
To Increase the average educational attainment of Indians
To increase academic standards
all of the above
Answers
Answer:
India holds an important place in the global education industry. India has one of the largest networks of higher education institutions in the world. However, there is still a lot of potential for further development in the education system.
Moreover, the aim of the Government to raise its current gross enrolment ratio to 30 per cent by 2020 will also boost the growth of distance education in India.
Market Size
India has the world’s largest population of about 500 million in the age bracket of 5–24 years, which provides a great opportunity for the education sector. The education sector in India was estimated at US$ 91.7 billion in FY18 and is expected to reach US$ 101.1 billion in FY19.
Number of colleges and universities in India reached 39,931 and 993, respectively, in FY19. India had 37.4 million students enrolled in higher education in FY19. Gross Enrolment Ratio in higher education reached 26.3 per cent in FY19.
The country has become the second largest market for E-learning after the US. The sector is expected to reach US$ 1.96 billion by 2021 with around 9.5 million users.
Investments/ Recent Developments
The total amount of Foreign Direct Investment (FDI) inflow into the education sector in India stood at US$ 3.24 billion from April 2000 to March 2020 according to the data released by Department for Promotion of Industry and Internal Trade (DPIIT).
The education and training sector in India witnessed some major investments and developments in the recent past. Some of them are:
On September 4, 2020, Avanse Financial Services, launched a’ education loan offer for children who plan to pursue their higher education, take up teacher training courses and teachers who aim for up-skilling courses.
In September, EduAuraa, an online application education platform is launched with an aim to democratize the online education in India. Through a strategic partnership with OTT platforms ZEE5, a yearly ZEE5 premium subscription of Rs 999 (US$ 13.62), will grant a free subscription to Eduauraa services.
In September, GoLearn, India's first AI-powered English Language Teaching and Learning (ELTL) platform is launched to meet the growing demand for English teachers.
On September 2, 2020, Indian Institute of Technology (IIT) Delhi established an independent “School of Artificial Intelligence (ScAI)” on its campus to offer post graduate and PhD courses. The new school also aims to become the one-stop center for industry participants or the Government for AI innovation/ funding/ collaborations.
In September 2020, LinkedIn and National Skill Development Corporation (NSDC) partnered to provide free access to LinkedIn Learning resources to upskill young professionals in the country and create a future-ready digital workforce.
Between January 2020 and August 2020, venture capital investors invested ~US$ 1.19 billion across 36 deals, against the ~US$ 409 million across 43 deals between January 2019 and August 2019.
From January 2020 to September 2020, BYJU’s was at the top in the edtech sector, with a raised capital of ~US$ 1.12 billion in four branches from investors including Silver Lake, Tiger Global, General Atlantic, Owl Ventures and DST Global
Answer:
to attain cent per cent literacy