 He did his schooling in Hanamkonda, Warangal and his MA in Economics at Banaras Hindu University, MA in Economics at Aligarh Muslim University;PhD in Economics at Osmania University, and BEd at Osmania university in Hyderabad.During the Nizam rule in Hyderabad state, it was mandatory for all schools to sing a song praising the Nizam, when the headmaster of the Markaji High School in Hanamkonda asked his students to sing the song, K. Jayashankar, then a Class VI student, defied the rule and sang Vandemataram.His biography "Voduvani Muchchata" written by Kompelli Venkat Goud was released by KCR and other prominent personalities.