Very recently, the Indian government announced a demonetization measure by removing 500 and 1000 rupee notes as legal tender, ostensibly to combat cash hoarding (black money) and counterfeiting (which was helping fund terror). Of course, we have seen the impact of fiscal demonetization on the economy in the short term, though the long term prognosis is yet to emerge.
The immediate impacts that I see on the system of education in our country are as follows (not an exhaustive list):
- Slowdown in the rate of growth of private schools. Slowdown in money chasing real estate, regulatory clearances, investments and siphoning of money in Education, at least in the short to medium term. This may be accompanied by a corresponding growth/investment in the public system.
- The push to online payments at school. I believe more schools will now start accepting money in non-cash forms. This means a fillip to existing fee…
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