Significance of Public Private Partnership (PPP) for the Quality Assurance in Higher Education

Abstract

Education plays vital role in the socio-economic development of the country. Since, Higher Education contributes to the human resource of the nation; it has more significance for a country like India. Being a second largest and fastest growing economy of the world, India requires a huge infrastructure for Higher Education so as to brand knowledge based economy. However, National Education Policy, even after revisions could not yield satisfactory results. Plans, projections and targets designed to rejuvenate Higher Education sector still suffers several lacuna. At a juncture where classical Grant in Aid system seems to be failed and the privatization has its own drawbacks, there is a need to devise innovative hybrid solution to revamp the Higher Education sector. Public Private Partnership (PPP) is an arrangement between a government/statutory entity on one side and a private sector entity on the other, for the provision of public assets and/or public services, through investments being made and/or management being undertaken by the private sector entity, for a specified period of time. Because of greater efficiency, better delivery system, more accountability and value for money, the concept of PPP has received a wide acceptance in the various field of service delivery including the primary education. The paper presents the significance of the Public Private Partnership in improving the quality of Higher education in India.