The 24 percent hike in the outlay for education announced in the union budget will not help the sector because what is needed is a change in mindset, Human Resource Development Minister Kapil Sibal said Thursday.

"A 24 percent budget hike will not help the education sector. It is not just money allocation that we need, the country needs a change in mindsets involved in teaching, the quality of education and the education provider," Sibal said at the inauguration of the three-day Emerging Directions in Global Education (EDGE) conference in the capital.

"To change the dimensions of higher education in the country, we need a whole new crop of teachers who are responsible and willing to teach from their hearts," the minister added.

The annual EDGE conference brings together the heads of higher education institutions from all over the country, including vice chancellors, directors and educationists, to interact on policy making in the higher education sector.

"While focusing on higher education, we also need to think of the diluting quality because of mushrooming institutes. The ministry has often done checks in such private institutions where the entire faculty is hired for a very short period to lure students," Sibal said, referring to the money minting business in the education business.

According to statistics by Ernst and Young, nearly 40 million students are expected to opt for higher education by the year 2020, compared to the current 17 million.