An Economic Thought over the Quality of Higher Education, Employment Generation and NIRF Ranking in India

Abstract

Generally, countries are ranked according to their Gross Domestic Products (GDPs), Human Resource Developments, competitiveness index, poverty level, Per Capital Income, Industrial Development Index, Ease of Doing Business Index, etc. India is the sixth-largest economy based on its $3 trillion GDP in nominal terms. Ranks will help countries realize/understand the status of their current positions. Accordingly, corrective measures could be adopted to reach a higher rank in the coming years to rectify those problems. Similar is the case with comparing/ranking universities and institutions within the national level to overcome the drawbacks identified by the ranking agencies. Generally, it is in practice to see that Ranking is prepared by comparing units with similar characteristics in all aspects or only among homogeneous groups. Then only the validity of the Ranking will be very high or acceptable to all to a large extent. If the Ranking is done among the inequalities, it is of no use for such Ranking and is highly unacceptable. For example, the Olympic game is conducted separately for ordinary boys and girls and the Para Olympic Games for physically challenged boys and girls. This is the standard scientific practice generally adopted anywhere.