Indian Education Sector Needs Reform, Requires Priority Lending Rates
Kapil Sibal, The Union Human Resource Development Minister is urging for huge investments in the education sector and desires that the banks to provide it at priority lending rates.
The Minister aims to extract huge sums to persuade the reform movement in the education sector and strongly feels that commercial rates of interest should not be applicable for the educational institutes.
Mr. Sibal said, “The education sector should be given priority lending rates so that finance can be availed of easily to create infrastructure. On one hand, other sectors are getting priority lending rates while for the education sector the regular commercial rates are applied, how we can expect more infrastructures to come up”.
It has been reported that The Education Finance Corporation is set to offer loans at low rates for the people who are interested in investing in the education sector. On the top of all the facilities, the students will also be granted affordable loans.
The Government is targeting the GER figure that has been set for itself for the year 2025 and in order to do so, cooperation is also required from the country’s banks and financial institutions.