Current regulations are choking the development of the education sector. Siddharth Hariani and Rohith Ashok examine the restrictions and outline innovative ways to get past them
In a nation of over a billion, where a significant chunk of the younger population suffers from the lack of educational opportunities, medical resources and basic infrastructure, the need for investment in these areas cannot be overemphasized.
India’s economic development over the past decade has opened up new employment opportunities for educated youth and triggered a growing realization of the importance of education. With the passing of the Right of Children to Free and Compulsory Education Act, 2009, the government has shown its resolve to make primary education a fundamental right. The Ministry of Human Resource Development has set for itself the daunting target of doubling the country’s gross enrolment ratio by 2020.
In these times of burgeoning demand, the educational infrastructure in India falls far short both quantitatively and qualitatively. For its part, the government has sought to remedy this mismatch in demand and supply by allocating funds to the tune of ₹850 billion (US$16.3 billion) to the education sector in the country’s 11th five-year plan (2007-2012).
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Siddharth Hariani is a partner in the Mumbai office of Phoenix Legal. He specializes in general corporate, private equity and real estate work and has represented clients in the field of education. Rohith Ashok is an associate at the firm. Phoenix Legal is a full-service law firm that has offices in Mumbai and Delhi. It has six partners and 26 associates.
