BlueRose Publishers 'Education Finance in South Asia: Concepts, Theories, and Applications' by Devi Prasai

Challenges to education finance
South Asia has been facing several challenges in financing education. The major challenges are as follows:
A total of 10 million children are out of school in South Asia and they have been facing multiple exclusions; therefore, bringing them to elementary schools is a greater challenge to the school system. Second, equity has remained an unfinished and less addressed agenda in South Asia. Inequity is still at the alarming stage between the males and females, between the income groups, ethnic groups and between the settings (rural and urban areas), which has affected the whole socio-economic development of South Asia. Third, improving quality remained a challenge to South Asia. Poor quality of education has adversely affected the economic growth of South Asia. Forth, South Asia always demands more funds for educational development but forgets the better choices. More spending choices increase the efficiency of education finance. Fifth, adequacy of funding remains a challenge in South Asia, the huge gap between the need and the available resource remains a challenge. Moreover, while costing-out, intervention, quality remains in the gray area. Sixth, liberty became a new theme in education finance. Milton Friedman had advocated school choice a long ago and had tried to use the market forces to improve efficiency in education. Introducing school choice and pay for performance are major challenges to improve efficiency. South Asia has to address the above challenges in the future.

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