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Indian education budget, and how to finance our 380 million children education.First start with a few data pointsNumber of children 5-19 years of age

Rakesh Prasad Rakesh Prasad 888   {{descmodel.currdesc.readstats }} {{descmodel.attruser || 'Attribute'}} {{descmodel.upgradeduser || 'Upgrade'}} {{descmodel.downgradeduser || 'Downgrade'}}

Originally Posted by {{descmodel.currdesc.parent.user.name || descmodel.currdesc.parent.user.first_name + ' ' + descmodel.currdesc.parent.user.last_name}} {{ descmodel.currdesc.parent.user.totalreps | number}}   {{ descmodel.currdesc.parent.last_modified|date:'dd/MM/yyyy h:mma' }}

Indian education budget, and how to finance our 380 million children education.

First start with a few data points
Number of children 5-19 years of age as per census 2011 - 380 million.
India's total budget outlay - 1,777,477 Crore i.e. $296 Billion.
Cost to educate a child in a high quality education system like Kendriya Vidyalayas  for year 2014-2015 - Rs. 32,236
Total cost to educate children between 5-12 year of age (till 10+2) = Rs. 12,160,000 million i.e. $ 203 Billion
India's education budget = Rs. 69074 Crore which is $11.5 Billion.
Now if look for a high quality universal education system all across India and available to every child in the country the total budget deficit is $192 Billion. 
The kind of money needed for Universal Education system for 12 years of good quality education through neighborhood schools in India is around 68% of our total budget, nutshell it can't be done with public money. And the amount of money allocated is just too small to make any dent.
So all we are left with are thinly spread badly managed government schools and a lot of private schools(quality unknown) and coaching institutions($40 B) trying to fill in the gap. The problems an Indian parent face due to this "arrangement" doesn't need any explanation, and the repercussions are visible in our society and work force. 
Is there a way out, how can we finance universal high quality neighborhood education system for 12 years of study in India?
Its evident from Rs. 260,000 Crore market of private coaching centers, parents are ready to pay disproportionate amount of money and pain to chase an illusion of an education, if we can define an ecosystem to channel this money into neighborhood schooling system, it would be a good start.
Here is a solution we will pursue to attain universal, high quality neighborhood schooling in India.
Sources - http://www.investindia.gov.in/education-sector/
http://assocham.org/newsdetail.php?id=4050


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