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SERPS is a term I coined as an acronym for Subsidized Education Repayment System. Here is why. And if you have read the previous article on how the hardworking salaried taxpayers in India subsidize the potential brain drainv, you already partially know why. It can also be called the अनुदानित शिक्षा पुनर्भुगतान प्रणाली योजना like so many other Union & State Government Schemes that exist presently.
Creating a system to ensure individuals who have received subsidized higher education in India and migrated to other countries contribute back has been a topic of debate for many years. While India has a long history of offering subsidized education to its citizens, there have been concerns about brain drain and the loss of investment in individuals who then move abroad. This article explores the potential strategies India can implement to encourage those who benefited from subsidized education to give back to the country.
Moral Obligation: One of the primary arguments in favour of such a system is the idea of reciprocity. By receiving subsidized education, individuals are essentially borrowing from the future workforce and infrastructure of the nation. Therefore, it can be argued that there is a moral obligation for these individuals to contribute back to the system that supported their education.
Implementation: Implementing a system that tracks individuals who have benefited from subsidized education and have migrated abroad is crucial. This can be achieved through effective data collection and collaboration between educational institutions, government agencies, and international databases. Utilizing technologies such as AI and data analytics can streamline this process and identify individuals who have moved abroad.
Structure: Moreover, setting up a structured repayment system can incentivize individuals to contribute back to India. This could take the form of a taxation mechanism specifically targeted at individuals who have benefited from subsidized education. Alternatively, the government could introduce schemes that offer incentives for voluntary contributions such as funding research projects, scholarships, or infrastructure development in India.
Balance: It is essential to strike a balance between encouraging individuals to give back and respecting their personal choices. Some individuals may have valid reasons for migrating abroad, such as better career opportunities or personal circumstances. Therefore, any system implemented should consider individual circumstances and provide flexibility in repayment terms.
Awareness: Creating awareness about the importance of giving back to society can also play a significant role. By highlighting success stories of individuals who have contributed back to India after receiving subsidized education, a culture of giving back can be fostered. Utilizing social media, campaigns, and collaborations with alumni associations can amplify this message to a wider audience.
In conclusion, establishing a system to ensure individuals who have received subsidized higher education in India and migrated to other countries contribute back is a complex but necessary endeavour. Using hard-earned taxpayers’ money to subsidize higher education only to have the ‘brains’ migrating abroad is a no-brainer. By leveraging technology, implementing a structured repayment system, respecting individual choices, fostering awareness, and promoting a culture of giving back, India can create a more sustainable model for the education system.
Approximately INR 8,000 crores goes to IITs each year, and another chunk to IIMs. All funded through taxpayer's money.