Child's education expenditure up 168% in 6 yrs: Assocham
Parents' annual spending on a child's education has risen by over 168% to Rs 94,000 between 2005 and 2011, a study has said.business Updated: Mar 27, 2011 16:44 IST
Parents' annual spending on a child's education has risen by over 168% to Rs 94,000 between 2005 and 2011, a study has said.
In 2005, the education expenditure was about Rs 35,000 a year, said the Assocham study.
"The expenses have increased due to hike in tuition fees, books, uniform, transportation, tuitions and extra-curricular activities," it added.
The chamber surveyed about 2,000 parents, with a minimum salary of Rs 7 lakh annually, in major cities like Delhi, Mumbai and Kolkata.
The rising cost of education has become a major cause of worry for parents with a majority of them spending more than 18-20 lakh on average on child's schooling, the study said.
The cost of education is increasing every year, parallel to the inflation, it added. The general inflation in February was 8.31%.
The parents' annual income, on an average, has risen up to 32% in the past six years, the study said.
It also said that majority of parents believe it is difficult for a single parent to fund a child's education.