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Dear Readers,

Most people feel that our education system has a major defect. Bryan Caplan writes in his book ‘The case against education’ why the education system is a waste of time and money. The system neither enriches lives nor increases the productivity. The current education system does not create holistic happiness. Schools teach some broadly useful skills - especially literacy and numeracy. Although English is the international language for business and communication, all countries emphasise on teaching their students the national language. Few jobs require knowledge of higher mathematics and history. However, the system is constantly working on improving the methods of intellectual enrichment and, to an extent, paying attention on students’ physical training too. However, the shortcoming is in terms of the lack of importance they pay towards inculcating a culture of understanding and practicing spirituality - the true art of understanding life or how one should live.

Swami Vivekananda said, “Education is the manifestation of the perfection already in man. Educate people technically, morally, and intellectually to support themselves and to give service to others.” Education must be life-building, character-shaping; it should allow the assimilation of ideas for the betterment of the society, the nation and the world. Spirituality in education system is essential to develop a clear understanding and realisation of the essence of all religions, ethics, morals and values; be marked with discipline, unity, harmony, and peace, where one works hard fearlessly, with honesty and humility. The education system must encompass holistic development of the body, mind and soul. Spirituality teaches that all are the children of God; all are pure, divine and infinite. Spirituality means: S- sincerity, P- purity, I- inner strength, R- responsibility, I- infinite, T- trusting, U- understanding, A- ability, L- lovability, I - interest, T- tolerance, Y- you.

Mahatma Gandhi had always advised all to be spiritual beings. One must bring one’s mind, body and soul in harmony and attain inner peace and happiness.

The first Education Commission in 1982 had recom-mended the introduction of moral textbooks based on the fundamental principle of religion. In 1948, after independence, the University Education Commission headed by Dr. S. Radhakrishnan recommended that in degree courses, lives of great spiritual figures notably Buddha, Lord Mahavir, Confucius, Zoroaster, Jesus Christ, Guru Nanak, Muhammed, Parahamansa Sri Ramkrishna, Parahamansa Sri Yogananda, Swami Vivekananda, Saint Kabir, Saint Surdas, Saint Francis, Lord Rama, Lord Krishna, Lord Shiva, Lord Narsingh Bhagwan and other saints of all religions be taught. Their teaching and messages are about secularism and the essence of all religions, which relate to service to humanity, peace and harmony, the attitude of “live and let live”, tolerance, democratic spirit, protection of Mother Earth, the virtue of selfless sacrifice, hard work with devotion righteously, fearlessly and selflessly. Swami Vivekananda said, “Without spirituality, the third generation would become extinct.” Indian Prime Minister Narendra Modi said, “Spirituality is the strength of India”. The country’s President Ram Nath Kovind said, “The goal of education should not be limited to getting jobs but to use the skills to set up enterprises.”

Dalai Lama said, “It is the responsibility of the educational institutions to nurture both physical and inner well being.” Our existing education system is more oriented towards materialistic goals and as a result our way of life has also become focused towards achieving materialistic goals. We need to introduce knowledge of inner values and ethics in our education system. There should be universal ethics and training of the mind, based on  India ’s secular tradition on a scientific basis. Being humane is essential.

Public schools, especially in rural areas, are in a poor state of affairs in all respects. Condition of the rural school buildings and their amenities is mostly not up to the standard. Teachers’ attendance in those schools is a matter of serious concern. Even their knowledge level is nothing to be proud of.

Private players can be encouraged to enter the education sector and bring technical knowledge, funding, research and job opportunities. But reservation of 25% of seats in private institutions will deter private sector participation. As it is, private schools are victims of many outdated rules and laws. Government schools should be allowed to grow through the PPT model. Government should also promote private schools by easing norms and availability of lands and soft loans. This would help in moderate fees with economic viability, which is essential for sustaining the standard of education imparted. Although PM Modi has been taking personal interest on the Swatch Bharat campaign, the hygienic condition in large number of government schools is not up to the mark yet.

There is a shortage of medical/nursing University. By having Glocal (global+local) education system, great employment can be created in the medical profession. Government needs to fix National Examination Standard. Need is to give easy approval for medical/nursing institutes. Medical students are going to USA, UK, Australia, China and Russia.

Holistic education with an international edge is needed. Foreign universities have been allowed to operate independently in India. The All India Council for Technical education (AICTE) enters the picture here. Approvals from the AICTE are delaying the process of making India an education hub and resulting in a drain of billions of foreign exchange as students travel to other countries for higher education. There is a steady annual rise of 7% Indians going for higher education abroad. Other than the  US, the UK, many countries like  Singapore, Australia, Russia and China have become educational hubs. India, despite having the talent, is missing out on this. Ironically, in ancient times India used to be a haven for knowledge and wisdom and students from around the world used to travel to India for intellectual enrichment.

The RBI has recommended 12 big corporate defaulters to IBC. Out of these, Bhushan Steel’s bid by Tata Steel is being concluded at more than Rs. 35,000 crore against the default amount of  Rs. 47,000 crore. Banks have to take haircut of 40-70%. Government will amend the IBC (2016) to put home buyers on par with the financial creditors and allow promoters of micro, small and medium enterprises (MSMEs) to be eligible to bid in the insolvency process having a turnover of Rs. 250 crore. M.S. Sahoo, the Chairman of Insolvency and Bankruptcy Board said the objective of bankruptcy law is to revive an asset for collective good and maximize value for a chosen few. He urged creditors to do more for all stakeholders.

Due to good crop rate, GDP growth is expected to be 7.4% in the fourth quarter of January to March 2018, up from 7.2% in the October to December 2017 quarter. Surge in oil prices will have its impact on the Current Account Deficit (CAD), which may stretch to 2.5% of GDP instead of 1.9% as estimated. Rising prices of petrol and diesel will further fuel inflation. Good news is that lower expenditure is expected to prune FY19 fiscal deficit to 3.4% of GDP.

Global trade is shrinking. US has imposed high tariffs on the import of steel from  Europe  and other countries. The Netherlands unit of Tata Steel is affected. Dutch Prime Minister Mark Rutte and the Prime Minister of India, Narendra Modi will review the strategy to protect their mutual interests.

May God bless the Nation to adopt glocal, holistic and technical education to create jobs, self-employment and happiness. GDP measured by happiness and not by materialistic achievement, will be a better parameter to judge a country’s progress.