The Indian education system has been grotesquely torn and scavenged by private institutions because of sheer greed for money-making policy and a lackadaisical attitude of the government. Since the privatization of education under LPG (Liberalization, Privatization, Globalization) in 1991, many industrialists and multimillionaires (who were not educationists by heart and by nature or academically) jumped into the education business. It is very easy to run educational institutes, as the nature of education is Marksheet oriented. The government norms are typical ‘penny wise pound foolish.’ After LPG, three decades have passed, but no private institutes were able to bring laurels internationally. Still, government institutes are pioneering in academic activities, no private college or university was able to come up with the IITs, or NITs, IIMs or ISI, Bose Institute, or Saha Institute of Nuclear Physics. No university excelled in the fields of fundamental research of history, literature, or other areas. Unfortunately, no Indian university stands in the queue of 200 members worldwide. What is the role of so-called private institutes in Indian education? They just fight to fill up their seats before the season begins every year, with a bundle of notes tucked with the admission form and allow the poorest (academically), students who are for the sake of degree get admitted. They neither become good engineers or teachers, nor an entrepreneur. The salary of the staff and faculty members remain always adversely proportionate, with the generating money of the admission. No prover Governing body exists, one man army becomes the rules. Underqualified faculty members are recruited for the sake of avoiding high bucks salary, their career becomes a stalemate. No or hardly any amount is spent on their development as part of FDP. Genuine research is never conducted, the culture of this private academia confines to bookish teaching and awarding certificates. The affiliating universities play an onlooker role, as many things come into the way of understanding. I have seen one of the biggest Hotel Management institutes of eastern India, affiliated with a Univesity, Kolkata, openly allow students to imitate and there is no observation. Students exchange, faculty exchange programs are a far cry in private educational institutes. The contribution of the private educational institutes is so far zero in the development of the nation. Many merits were either denied of education due to financial crunch, or proper nurturing by the institutes. No strong and symmetrical guidelines have been laid down to curb the menace of mushrooming these institutes. I was working in a University in Bihar, where I was the lone professor of the English department looking after undergraduate and postgraduate departments. Students do not come to attend their classes. The departmental principal told me to prepare answers to the questions. I checked the copies of the PG final year students, and everybody got high marks, as the answers were written by me, and all copied from them. Morally strong teachers cannot survive in the private educational institute, as they are compelled to compromise with many things. One of the renowned education hubs from Kolkata started college in Germany, and the consequence was a strong push in the neck as they wanted to go to apply the same CHEAP policy there. Many colleges and universities are run by private trustees in Europe but look at their stature and contribution in education. MIT is a private institute, but anybody would feel proud if he becomes an alumnus.The occult of these private institutes must be curbed and government must have zero tolerance because substandard teaching and environment would ruin not a single man, but a generation.