India has a large educational system for its billion plus population. As of 2007/08, India has more than 400 universities and 21,000 higher education institutions. These institutions currently can only enroll 7-8% of the college-age students in the country, which results in one of the lowest Gross-Enrollment-Ratio (GER) among developed and BRIC countries. India currently has 460 million in the ages of 6-24 years eligible to study at educational institutions, while only 63% are enrolled in educational institutions and even a lower percentage goes on to graduate college. According to a report released by Union HRD ministry, India’s expenditure on higher education will grow nearly 13% annually in the next 10 years driven by the private sector. As of 2010, current estimates of higher education spend in India is at Rs. 46,200 crore ($10 billion) and it is projected to grow to Rs. 150,000 crore ($32 billion) in the next 10 years. The average household...
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