I wear a T-Shirt that says "You can't fix stupid". This is so true for the Indian Government.
According to this article in Hindustan Times, we Indians spend $13 Billion on foreign education. EVERY YEAR.
Let me get my calculator out.
So we are saying around 520 billion INR are spent in one financial year by 4,50,000 Students studying abroad. If this happens 5 years in a row, we are saying that around 2,500 billion rupees is spend by Indians in foreign education.
I am not an economist. But common sense tells me that even if 10% of that money is used to build 2 more world class IITs and IIMs and upgrade the RECs and other good institutes, we will be 1] Saving a ton of money and 2] Actually making a windfall of profits out of these !!!
It's a classic demand-supply case here. There's a demand of higher education in India. USA, Singpaore, even China is helping with the supply for that demand. But what is our dear pin headed government's best response ? Yes, you guessed it. MORE RESERVATIONS.
They just turned it upside down. Its like "Wait. There's more demand for higher education. Let's REDUCE the seats. Tha'll help"
Fking asses. You really can't fix stupid, can ya?