Government to foster education sector to enhance service' share in GDP: Commerce and Industry Minister
India Today , Oct 30, 2018
In order to increase the share of overall service sector in the country's economy, Commerce and Industry Minister, Suresh Prabhu disclosed that the government is all set to work on promoting the growth of the education sector.
The services sector currently contributes about two-third in India's gross domestic product (GDP).
He said that the government was working with different universities and institutions in this regard.
As employment generation is a major challenge, promoting growth of services sector would help dealing with the issue.
He said that the government was working with different universities and institutions in this regard. As employment generation is a major challenge, promoting growth of services sector would help dealing with the issue.
Union Cabinet's decision:
- In February, the Union Cabinet had decided to give focused attention to 12 champion service sectors and mandated the identified nodal ministries and departments to formulate sectoral action plans under the dedicated fund of Rs 5,000 crore.
- The 12 champion service sectors includes IT, tourism and hospitality, transport, accounting, audio visual, legal, education and environment.
Prabhu also said that the educational institutes have to keep in mind the emerging challenges being faced by industries and introduce modern technologies like artificial intelligence, robotics and big data.
Which issues need focus:
Higher Education Secretary R Subrahmanyam said that there is a need to focus on issues like quality, research, employability and internationalisation of institutes.
He said that research is a key for higher educational institutes, and for that there was a need to attract investments and funds.
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