In light of the recent rapid increase in the number of private schools in India as well as the number of students being enrolled in them, one cannot help but ponder about the reasons for this unprecedented growth of the private schools. Firstly, this research describes the Indian educational philosophy with respect to individual growth and collective progress of the society. Secondly, it examines the conditions that led to this growth of private schools as a result of the failure of implementation of the right to education in terms of access to schools and teacher qualifications, training, salaries, and attendance. Thirdly, it analyses the Right to Education Act, 2009 in light of the requirement of government regulation in private schools to maintain a quality of education as set by the Act. Fourthly, it proposes self-regulatory mechanisms that would remove the information asymmetry regarding the working of private schools between these schools and the government to better the overall learning process. Lastly, the paper provides few suggestions to improve the quality of education and proposes the setting up on an independent body for as a mechanism to regulate the working of private schools.