Indian education system is also a huge generator of black money every year. Capitation fees of around 50 thousand crore is paid at various educational
levels from KG to PG in India.
This so generated black money often finds its ways to terrorism, election financing and religious conversions. Medical and engineering colleges are the
biggest sources of black money with every seat going for lakhs of rupees. These educational institutes use that money to pay bribe to get accreditations
from medical council and AICTE. Government has plans to conduct single common entrance exam to fulfil their seats which will reduce corruption. Auditing
their financial statements, releasing them on websites, strict monitoring of their funds etc are some other measures set to reduce black money in educational
Thus, educational institutes can no longer have usual donation practices and there is looming fear in the minds of people related to all sectors that tax
authorities are keeping strict vigil at their activities. This will definitely help poor parents to afford quality education for their children.