India Ratings and Research (Ind-Ra) on Thursday said the new National Education Policy 2020 (NEP) will enable creative learning among students and boost their employment prospects.
The government recently introduced many changes in the school to the higher education segment for making the education system in India well organised, to reduce complexity of regulatory norms and achieve global standards by internationalisation of education.
"The new education policy 2020 will enable creative learning among students and boost their employment prospects," the rating agency said in a report.
However, Ind-Ra said the target is challenging and seems difficult to be achieved.
The new policy plans to encourage enrolment in higher education through the implementation of a cap on tuition fee in private institutions offering higher education, it added.
The government expects this will reduce reliance on education loans and, hence, lessen the burden on parents' pockets, the report said.
However, the rating agency added that this may hurt the revenue profile of private and/or unaided educational institutions offering higher education and affect faculty quality, leading to sub-par learning outcomes.
Ind-Ra said it believes a single regulator would bring in more transparency, reduce entry barriers in terms of time and costs involved to commence a college/university and lessen states' involvement in managing matters of higher education.
The government through the NEP proposes to set up the Higher Education Commission of India with four verticals, namely National Higher Education Regulatory Council, National Accreditation Council, Higher Education Grants Council and General Education Council, it said.
Effective implementation of the reform measures underlined in the NEP will require enhanced government spending in education, the rating agency said.
It added that higher public spending on education is expected to result in better infrastructure, pedagogy and more research and development activities.
