Anil Swarup, Secretary (SE&L), Ministry of HRD, said, Autonomy should be coupled with accountability and complete transparency.

Speaking on a Model Code for Self-Financed Independent Schools that is based on Equity, Quality, Excellence and Partnerships, he said, “I am pleased to learn that a few states are already in the process of adopting the frameworks emanating from this FICCI ARISE model code. This framework, once adopted by states, shall clear the regulatory maze and attract long term visionary investors to enter the sector. Increased supply shall in turn increase competition that shall boost quality, transparency and affordability”.

The Code Model Self-Financed Independent Schools Code Version 2.0 has been prepared for the states to regulate the establishment and operation of new schools and recognition of existing schools.

The model lays down the framework for independent schools to practice utmost levels of transparency and governance through self-regulation and accountability. Since its official release in April 2017, the code has evolved on the basis of inputs received from various State Governments and key stakeholders.

Prabhat Jain, Chairman, FICCI ARISE & Director Pathways World School said, "Most states do not have a defined legislation for self-financed independent schools. Legislations governing the government schools mostly cover self-financed independent schools.

There have been several pronouncements by the apex court and various high courts. All this leads to overlaps and ambiguities that promotes inspector raj, misguided activism and litigation. Over-regulation breeds malpractice and corruption and discourages the much needed investment into the sector.

He further added that 'FICCI ARISE has devised a balanced framework for fee regulation that on the one hand takes full care of parental interests and on the other ensures sustainability for self-financed independent schools.'

Shobha Mishra Ghosh, Assistant Secretary General, FICCI said, 'The Code prescribes a balanced framework that provides adequate autonomy to self-financed independent schools to excel and renders adequate powers to the state to regulate them. Parents shall be the winners who would then have a vast variety of high quality schools of different genres to choose from for their wards.'