Shastry V Mallady

Creation of equity fund by Central and State governments also suggested

MADURAI: Eminent academician and Chairperson of Madras Institute of Development Studies, M. Anandakrishnan, has suggested floating of `education bonds' and creation of an `education equity fund' by Central and State governments to mobilise resources for education.

"We cannot ignore education just for want of funds. The Government should find out ways to meet requirements and my suggestion is to float special bonds or have a fund for that," he said while speaking to The Hindu here on Thursday.

Dr. Anandakrishnan, a former Vice-Chancellor of Anna University, said he was preparing a note on the idea of floating education bonds and it would be explained in detail later.

He said he was yet to take the proposal to the State Government but expressed confidence that having an education equity fund would meet the needs, particularly of that of infrastructure for secondary and higher education. The Central Government too could think of floating bonds as it enabled development of the whole spectrum of education, he said.

Dr. Anandakrishnan was here to participate in the inauguration of Velammal Matriculation School where he dwelt at length on issues concerning school education and dropout rate between eighth class and Plus-Two across the State.

He said nearly five lakh students dropped out from schools between tenth standard and Plus-Two in the State. Government schools, he said, were essential for those who could not afford to join private schools.

Ten lakh students passed eighth class every year in Tamil Nadu but when it came to SSLC only 7.5 lakh passed. Only five lakh students appeared for Plus-Two examinations, indicating a huge drop out, he said.