GenX at a Glance

Investment in education leads to the creation of human capital, which is an important input into socioeconomic development of a nation. In many developing countries, including India, education in general, and higher education in particular, is predominantly in the public sector, though the trend is fast changing. Thus education was believed to have been bypassed by the miracle of the market and is an example of what Dreze and Sen (1998) call a market-excluding arrangement, rather than a market-complementary arrangement. Developed countries, on the other hand, have been able to have market-complementary arrangements in education as a result of which widespread literacy levels have been achieved with a billion dollar industry involving foreign education providers, distance learning and franchisees, we discuss the status of higher education in India and argue that GENX could provide an opportunity to put together a mechanism whereby private and foreign investment in higher education can be encouraged subject to high quality standards and efficient regulation.

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