India has made a huge progress in terms of increasing primary education attendance rate and expanding literacy to approximately two thirds of the population. India's improved education system is often cited as one of the main contributors to the economic rise of India. Much of the progress in education has been credited to various private institutions. The private education market in India is estimated to be worth $40 billion in 2008 and will increase to $68 billion by 2012. However, India continues to face stern challenges. Despite growing investment in education, 35% of its population is still illiterate; only 15% of Indian students reach high school, and just 7% graduate.. As of 2008, India's post-secondary high schools offer only enough seats for 7% of India's college-age population, 25% of teaching positions nationwide are vacant, and 57% of college professors lack either a master's or PhD degree. As of 2007[update], there are 1522 degree-granting engineering colleges in India with an annual student intake of 582,000, plus 1,244 polytechnics with an annual intake of 265,000. However, these institutions face shortage of faculty and concerns have been raised over the quality of education.
2.1 Primary education... [continues]
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