The curriculum, content, the pedagogical tools and testing methods in these institutions should be designed and delivered in such a manner that the employers compete with each other to hire the products of these institutions. The Government is encouraging private-public partnership in this area and has a number of existing physical facilities that can be used for this purpose.
These low interest rates, the argument goes, led to excessive credit extension and asset bubbles in the housing and equity markets, and to the lending excesses that ultimately caused or exacerbated the crisis. In other words, by focusing too narrowly on inflation, monetary policy ignored the financial stability implications of low interest rates.