Chairman of HDFC, Deepak Parekh has called for "aggressive" investments by the government as well as corporates in the education sector, saying it is the key to unlock India's demographic dividend.
"For a country like India, spending on education is abysmally low at 3 per cent of GDP. India has one of the youngest populations in the world and effective investment in education will determine how well the population is educated and this in turn will enhance the productivity of the demographic dividend," Parekh said at the launch first school HDFC School in Gurgaon.
"Though the allocation for the education sector has gone up progressively in the past decade, there is still a need that the Indian government and private sector invest aggressively in education sector going forward," he said.
"There is a lot of innovation that can be brought into the education space and with this initiative, HDFC aims to create a visible impact on schooling system," he added.
Parekh said the group's education initiative is an answer to the question "Why can't equal opportunities be provided to all Indians to secure quality education for their children leading to better careers and better lives?"
"The HDFC School will focus on academics, and at the same time seek to develop well-rounded students, who will flourish in a pluralistic society. It is our endeavour to develop responsible young global citizens," eminent educationalist and academician Anita Makkar said, reported Business Today.
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