New Delhi: On the occasion of Teacher's Day, Alakh Pandey, founder and CEO of Physics Wallah, urged the government to reduce the Goods and Services Tax (GST) on the education sector and called for edtech companies to operate as non-profit organizations.
In an exclusive interview with ANI, Pandey emphasized the need for increased government spending on education, pointing out that the current allocation of 3-3.5 per cent of GDP is insufficient compared to many developed nations.
"Increased government investment could boost the education sector's growth and heavy taxation on education in India is also one of the issues. In India, 18 per cent GST is imposed on education compared to China's 6 per cent, which includes private education," Pandey said.
He pointed out that the education sector in India is severely underfunded, saying, "With the country spending only 3 to 3.5 per cent of its GDP on education, compared to Brazil, which invests more than us, the education system in India has a low budget."
Comparing the education model in China, Pandey suggested that "edTech companies should operate as not-for-profit organizations, following China's example, as education and healthcare should be prioritized over profit. There is a lack of focus on education among Indian politicians, with few chief ministers addressing educational issues and school development. Education is not on priority in India."
Pandey also spoke about the New Education Policy (NEP), praising it but emphasizing the need for proper implementation. "The NEP is a good policy, but its implementation in the right manner is very much needed. It focuses on practical skills, to-the-point curriculum, and effective execution."
He also highlighted the challenge of a shortage of qualified teachers in India, partly due to inadequate pay. "Teachers are working for 6k- 10k per month which is very little," Pandey pointed out.
On Teacher's Day, Pandey offered advice for aspiring teachers, saying, "Future educators should prioritize quality and content, focusing on how to enhance each student's potential. Teaching is a noble yet challenging profession and should not be seen as a fallback option."
When asked about the success of Physics Wallah, especially when many larger edTech companies are struggling financially, Pandey explained that his platform always prioritized education over revenue.
"My focus has never been on revenue. While many large edTech companies have struggled, smaller ones have thrived. I believe the key to success lies in prioritizing education over sales. The three crucial elements are the feedback and sense of safety from students, the improvement in their results, and the growth in the number of students over time," he said.
Regarding the role of technology in education, Pandey said, "Technology should serve as a tool to empower education, not the other way around. It is edTech and not tech ed so technology empowers education. The primary focus should be on education."
On Teacher's Day, Pandey shared a personal story about his favourite teacher, Sohail Tayyab, who taught him physics in class 11 without charging any fees. Pandey credited him with helping him clear IIT and start his coaching center.
Expressing his gratitude, Pandey said, "A few days ago, I met him at some event and asked him is it enough or shall I do something more. He replied that he knew I would do something big. I took a picture with him when everyone else was trying to get a picture with me."
