The Hyderabad School Parents Association lashed out at the Telangana government on Friday for not making public a report investigating into financial details of 12 private schools and also for not taking any action on the report. The parents also accused the Telangana government of taking the side of the school managements as they had deep pockets.
The state government had promised in August this year that it would reveal the report's findings after the Warangal by-election. As per the HSPA, one of the findings of the report is that schools are accumulating huge profits to the tune of 50-70 per cent of the fees collected from students in spite of the government rule of earning just five per cent profit. It gave the example of one of the inspected private schools, which collected fees amounting to Rs 80 crore, out of which Rs 40 crore was profit; but it showed just Rs 5 lakh in its balance sheet.