A COMPARATIVE STUDY TO ANALYSE THE REQUIREMENT OF AN EFFECTIVE AND VALUE-BASED HIGHER EDUCATION SYSTEM WITH REFERENCE TO INDIA (Pages 01-15) by Dr. Ravindra Appasaheb Marathe in THE INTERNATIONAL MANAGER / ISSN: 2348-9413 (Online); 2348-9405 (Print)

Education is not only an instrument of enhancing efficiency but it is also effective tool of widening and augmenting democratic participation and upgrading the overall quality of an individual by increasing social values. The Indian higher education system continues to be bogged down by the challenges of indefinite access, poor quality and inequity. A country with value based education system responds more effectively and promptly to the challenge and opportunities of the globalization. The thrust of an effective and value based quality education system at higher level has been recognized by the academicians as well as research scholars. This research paper tries to explore the present scenario of higher education system by describing, comparing and analyzing the data; and suggesting remedies to improve it for correcting sectoral and social imbalances, reinvigorating institutions, crossing benchmarks of excellence and extending the frontiers of knowledge. It also acknowledges the challenge of rising numbers of students, social inequalities and real issue of quality teaching-learning in higher education system. The paper is purely based on secondary data and information has been collected with effect from independence. Academic programmes, policy statement, education projects and publications of UGC are analyzed by applying various statistical tools to highlight the challenges and prospects for future progress through an effective and value based higher education system in India. Keywords: financial innovation, gross enrolment ratio, higher education system, India, knowledge economy.