Government-Nonprofit Organization: A Synergistic Model for Microfinance-Promoted Education Programme in India

DOI: 10.5716/978-981-08-9493-1_IE30

Authors: Cashmira Pramanik and Prof. Vinay K. Nangia

Abstract:

Currently, India is home to one-third of the world’s poor .With 37{6e6090cdd558c53a8bc18225ef4499fead9160abd3419ad4f137e902b483c465} of the Indian population below poverty level, the direct costs of schooling reduce the probability of children attending school, thereby making it difficult to achieve the United Nations’ Millennium Development Goal Two, i.e. the target of giving all children access to a full course of primary schooling by the year 2015. Therefore, there is a need for a growth strategy which could channelize an increasing proportion of public spending to human resource development and skill formation to ensure a continuous supply of quality manpower. This paper proposes a synergistic framework of government & Non- Profit Organizations linking the large number of rural population, particularly people living in Below Poverty Line (BPL) for access to microfinance-supported universal education coupled with alleviation of poverty. To combat the challenge of ensuring that the doors of capital, knowledge, and opportunity are allowed to be opened for the vast pool of the poor in terms of poverty reduction coupled with education development, all the stakeholders- government, microfinance industry and community should form synergy cooperating, collaborating, and facilitating with each other with an eye to attaining the true purpose of such relationships.

Keywords: Microfinance; poverty; education; government;subsidy