The aim of any education system is to provide inclusive quality education and learning opportunities for all which ensures that a learner is eventually transformed into a good human being imbibed with moral and ethical values and is equipped with adequate employment skills (self-employment or job). In addition, the individual attains good communication skills imbibed with logical reasoning power and analytical powers so that his intellectual ability is not confined to his own field but can be used in any situation and in any field. Thus as a useful member of society, this pass out student, is ready to contribute to Gross National Income through any sector- agriculture, manufacturing, service or the education sector itself. However, the present system of education is not fulfilling the aim of education as enumerated in the first paragraph above. The pass out students of the present education system is not employment ready. The present examination system, which basically tests the cramming capabilities of students, is not appropriate to evaluate the skills/ knowledge acquired by the students. This paper discusses shortcomings of present education system and the changes that should be brought which will ensure that a learner eventually turns out as good human being imbibed with moral and ethical values and is equipped with adequate employment skills (self-employment or job) - thus ready to contribute to Gross National Income through any sector- agriculture, manufacturing, service or the education sector itself.