For more IITs and IIMs govt needs to scrap licence raj: Assocham

Owing to the regularised education in India, nearly Rs 50,000 crore outflows every year. According to Assocham study, around 1,20,000 students go abroad for higher education every year.

The study points out that this money is sufficient to establish 40 IIM’s or 20 IIT’s. Even though the state and union governments spend Rs. 91,000 crore on education, it meets only 13 per cent of higher education demand. The study opines that ‘License Raj’ needs to be scrapped to permit Indian industry for establishing management and engineering institutions to bridge demand supply gap and create quality education infrastructure here.