Union Finance Minister Nirmala Sitharaman, said on Friday that private educational institutions have significantly contributed to the growth of the country’s educational sector and have witnessed fast growth over the years.

During 2020–21, 1,113 universities in India were listed on the All India Survey on Higher Education (AISHE). Of these, 10 are government-aided deemed universities, 235 are central government universities, 422 are state government universities, and 446 are privately managed (unaided).

“It is a common conundrum that if you want quality education at an affordable cost, then only the government can fund it. Private educational institutions have experienced greater educational growth and are attempting to provide affordable education,” the Minister said at a local college event in Bengaluru. The finance minister is an Rajya Sabha MP from Karnataka which will go to polls to elect a new assembly on May 10.

Additionally, she said that it is becoming difficult for any private educational institution to offer high-quality, economical education because of a number of variables, including infrastructural changes and staff wage revisions. 

Government involvement

Highlighting that education is a fundamental right and must be accessible to all, she said that government involvement in education, right from primary to higher education, is important as it benefits a large population in remote places and families who cannot afford the minimum price of education.

“Education is the solution to society’s problems. Moreover, the 21st century is a knowledge-based society, and knowledge and skills should be incorporated into the educational system,” noted CN Ashwath Narayan, Minister of Electronics, Information Technology, Biotechnology, Science and Technology, Higher Education, Skill Development, Entrepreneurship, and Livelihood in the Government of Karnataka, who was also present at the event.

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