Why isn't MBBS a lucrative career option for Indians anymore?
It is a widespread belief in India that doctors are one of the highest earners, but a fresh TOI report throws those claims into doubt. The publication found that an MBBS course generally costs more than Rs. 50L. An education loan of this amount results in EMIs of at least Rs. 60,000, but government salaries for freshers range between only Rs. 45,000-60,000.
Here's how the general fee structure looks like
TOI studied the fee structure of MBBS in 210 private colleges and found that average annual tuition fee crosses Rs. 10L. Fifty of them charged between Rs. 10L-15L. Over 30 charged even more. This is excluding other fees like hostel, mess or library. Often, it means total costs of more than Rs. 50L. Several government colleges also charge high fees, especially in Gujarat and Rajasthan.
In comparison, salaries are drastically low
When it comes to earnings, after 4.5 years of MBBS, one has to undergo a one-year internship. Monthly salaries range from Rs. 20,000-25,000 at maximum. Whatever they choose to do afterwards- pursue PG or work- government salaries range from Rs. 40,000-50,000 in most states. It can rise to Rs. 70,000 in 3-4 years. The numbers are worse in the private sector.
EMIs often cost higher than salaries
Education loans generally come with interest rates of 10% - 12.5%, which has to be repaid in 10-12 years. For a principal of Rs. 30L-50L, that means EMIs of Rs. 45,000-65,000. A large section of Indians tends to marry between the ages 22-28, adding even more expenses to their already strained burden.
Thanks to this, India has one doctor for 1,674 people
These figures force many to keep away from medical studies, causing a severe lack of doctors. According to IndiaSpend, India had one doctor per 1,674 people and was short of 5L doctors in 2014. This also means overworked and underpaid doctors. Unequal access to medical education, thanks to private colleges charging exorbitant fees, has been largely blamed.
Government needs to fix this before setting up new colleges
Instead of approving even more colleges, the government has to ensure the ones in existence are fulfilling their purpose. Otherwise, not only students, but also citizens will suffer due to lack of proper medical care.
