SIT FOR SWISS MONEY: WHY NO SIT FOR BIGGER SCAMS WITHIN ? Deposits by Indians in all Swiss banks at the end of 2010 amounted to Rs 9,300 crore or about $1.5 billion, according to a white paper. Modi and BJP made it into a vibrant poll issue which took them to Raisina Hill. But that much money, if not more, is changing hands in the black market of medical education in India every year. Back-of-the-envelope calculations show that the sale of MBBS and post graduate seats in medical colleges rakes in about Rs 10,000 crore or more in a year. And thats a conservative estimate. Heres the calculation. There are a total of about 8,100 MBBS seats in the management quota in private colleges (approximately 30% of the 27,000 seats in such colleges). The price of each seat varies from about Rs 55 lakh in Kerala and some not-so-well-established colleges in Tamil Nadu and UP to over Rs 75 lakh in colleges in Maharashtra, Andhra and Gujarat. At a conservative average of Rs 60 lakh per seat, the money generated is Rs 4,860 crore.
Posted on: Thu, 18 Dec 2014 07:56:16 +0000
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