What one needs is competition and the research collaborations - moolah will come anyways
Err. You may need any random thing. But ejjukashun in Yindia has basically been a tool for multiple political goals and objectives in India and lately it has become a money spinning tool as well.
Case in point Tamil Nadu. See, the entire system was geared towards "social engineering" ie, not to make sure that the system is geared towards quality and to maximize spread or anything, but to keep out certain "undesirables" (hint.. aka Tamil Brahmins, who practically would sweep the bulk of the available seats in a free competition despite being a minuscule 0.5% of population). So "lucrative" fields like medicine become a license permit raj system, where supply is limited very strictly (increase supply of doctors, the doctor's wages collapse, ask the AMA folks about it) , especially in PG, where there are multiple levels of "reservation" even within reservation (there they have something called "service" candidates, non service, and within that you have caste and other reservations.
The anti-caste warriors would argue against hereditary occupations. But ask a OBC doctor (they would be the large majority in TN, thanks to all these years of social engg) what he wants his children to become, surprise -- Doctor!. He wants his son/daughter to take over the practice/ whatever. So Dakktur giri has become like Dookan dari. Ergo, capitation fees at every level , reservation at every level, especially in PG , so that if you are an ophtamologist, you can keep it within the "family" and prevent a meritorious interloper from barging in to your party.
So solution.. Make it possible to whoever wants to be come a doctor to become one!. That is what happened with Yingin Earring, with the plethora of colleges now, so not a problem. But problem with Dakktur giri is exactly that of limited supply.
The current license permit quota raj benefits the incumbent folks with political power and other entrenched interests. Once you open it out and make it freely available it loses it cachet.
Remember telephones. Now every man jack in India has one.. Hardly a big deal. But 30 years ago, if you had a telephone at home you were someone of consequence. You had a minister's quota, a police quota, a govt babu quota , a doctor quota, a you nameit what quota, but for an ordinary person, the result was, you pay Rs 3000 and wait 10 years and if lucky you might get a phone. Same thing with ejjukashun today.
Foggedabout Eye Eye Tea and Eye Eye Yum. For a change Bade saar talked some sense and let those poor kids be. Not everyone can go to one of those places (I think naming all those new colleges IITs is terrible. They are brand diluting the the original names. the paanch pyaare.. call the new ones Rajiv Gandhi Institutes or something) . The entire focus should be in widening reach and creating more choices.