Demonetisation and Education

Inarguably, there has hardly been any issue as widely debated and conjectured than the government’s recent demonetisation drive of 500 and 1000 rupee notes.  And the one that has impacted the daily life of the common man as well as the trade and industry to such an extent. Personally, apart from being bedazzled by the move, it was the intent behind the move that held me captive like most Indians. The idea of wiping out black money and corruption, which plagues our system, needn’t any selling, especially to the common man who grapples with its demons every day. Needless to say, this move has impacted all sectors and education is no exception. The move will impact institutes taking donations or capitation fees. Some key monumental changes that we should witness due to demonetisation are -

1. Transparency - The biggest bane in the education sector and every parent’s nightmare. It is no secret that from kindergarten, schools, high schools and professional institutes, the practice of giving exorbitant amount of money in donations is rampant across the country. Many private education institutes take donations nearly 50% of the course fee and in cash.  This will stop and parents of students should get some relief even if the course fee may be upped marginally.  

2. Meritocracy - Meritocracy should get an impetus since seats in colleges and  

institutes won’t be found in bargain basements for sale. Medicine and engineering  

colleges will be most impacted. Some seats in these professional institutes fetch as

high as 50 lakhs to a few crores. Management seats should increasingly land in the  

lap of meritorious students.

3. Quality of Education - While there is some debate that some negative impact on  

quality of education will be felt due to a restriction of funds, it may be temporary. Fee   

structures could get realigned and may only lead to greater accountability.

Needless to say though that the government should focus on complementary and strategically planned initiatives/measures at the policy and grassroot level in the education sector to accentuate the benefits.

While the overall sentiment pertaining to demonetisation has been positive, it is pertinent to note how the media, influencers and opinionators which applauded the move almost unanimously have begun showing a marked shift in the narrative relaying pictures of how it may not look as good as it sounded then in terms of impacting the economy from the grassroot level due to the gaps in implementation.

Of course, the long term impact is what remains crucial in terms of sustained holistic  measures to curb corruption and that remains to be seen. The role of education in curbing corruption can’t be overlooked since there is no equaliser like education- a panacea to remove disparities and pockets of imbalance, reduce the gap between the have and the have-nots: the primary reason for corruption to thrive. Like all educationists, I eagerly look forward to the day when education will be given its due and along with health care be taken seriously enough.