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International Referred Research Journal, August,2010 ISSN- 0974-2832VoL.II *ISSUE-19
Research Paper—Commerce
GENERATION OF EMPLOYABILITY
THROUGH COMMERCE & MANAGEMENT
EDUCATION : OPPORTUNITIES &
CHALLENGES
* Dr. M. N. Sondge
* Deptt. of Commerce & Management, Dnyanopasak College, Parbhani (M.S.)
Introduction :
Education is an effective tool of social and
economic change. Creative education encourage the
original thoughts and inventions to remove social evils.
Dr. Vijay Bhatkar, stated that education is essential to
make India supper power, accordingly quality education,
is essential using modern techniques. A senior
educationist Dr. Ram Takwale said that educational facility
not to confined to a particular because of cost based
education. Dr. Radhakrishnan stated that education
solves the major problems of the society and country as
a whole. The then Prime Minister Pandit Jawaharlal
Nehru opined that nothing can happen wrong with the
nation, if all is well with colleges and universities. Indeed
India is struggling for 8% GDP, removal of poverty &
unemployment and secure atleast one percent share in
international trade.
Govt. of India spent about 4.3% of GDP on
education against required investment of 6%. Negligible
expenditure incurred on higher education for example
0.37% in 2003-04. Unfortunately, India ranks 115th all
over world in expenditure on education. Though, India
have 348 universities, 18000 colleges and about 5 lakh
teachers, the enrollment in higher education is about 9%
of students in the age group of 18-25 yrs. as compared
to over 50% in developed countries, 30% in middle income
countries and 23% world average. It is great
disappointment, that no one Indian university secured
place in top 100 universities in the world. Being first, the
Sydenham commerce college established in Mumbai in
1939, then number of colleges offering commerce
education reached to 1600 in 1999 of which about 150
were merely commerce college. About 1400 B. schools
having intake capacity 70000-85000 seats play leading
role in management education. A recent study disclosed
that just 40% college have 2F and 12B position and 20%
face NAAC. Only 9 universities and 97 colleges secured
CPE status of UGC, acknowledging the severe problem
of higher education in the country.
Education on Agenda : Dr. Radhakrishnan said that
national integration not built by bricks and mortar, it can
August, 2010
done by education. After 61 yrs of independence, UPA
Govt. passed resolution to implement free and
compulsory education to children in the age group of 6
to 14 yrs. It has great significance because India is home
to one of the largest contingents of un-lettered people
in the world. So, overall funding for education in XI plan
amount to Rs. 2.5 lakh crores a four-fold increase over
Xth plan and Rs. 84774 crores for higher education may
considered fruitful. WB, recognized that basic education
is a key to removing poverty. PM Manmohan Singh
rightly said that at least a fifth of our children will go to
college as compared to one tenth now, for that we have
taken revolutionary decision to have 5 Indian institutes
of sciences and research, 20 Indian institutes of IT, 8 IIT,
7 IIM, 30 central universities, 6000 high quality schools,
370 colleges, 10000 vocational schools and 50000 new
skill development centres.
Challenges :
It is obvious that, Govt. is withdrawing the
financial support from higher education and favours
FDI, PPP in education, cost base education and nonaided
institutes. As tuition fees is the main source of
funds, private institutions charges heavy fees, where
common students can't offered losing the opportunities
and employability. How we can talk about public good?
Majority academic institutions could not offer quality
education like IIT and IIM. In such a poor academic
atmosphere, we can't expect skill development and
employability of the students in India.Teaching is
purposeful imparting of information and skills to another
individual or group. Prominent institutions like IIM, IIT
discarded lecture method and concentrated on practicals.
But many colleges face acute problems in introducing
and implementing practical as part of syllabus. Govt.
should take it seriously and make special financial
provision for both the syllabus and personality
development-based practicals especially in Arts and
Commerce faculty. This will help to encourage the
development of skills and employability among the
students. In addition educational institutions, teachers,
parents and students even should take initiative in the
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