Union Human Resource Development Minister Prakash Javadekar said on Saturday that educational institutions, government or private, will have to improve their standards to survive in future.

"Whether government or private, only good institutions will flourish and bad (ones) will go. More an institution will be good, more autonomy it will have. Survive through competition and that is true for 21st century India," Javadekar said.

"It is really a challenge to improve government education sector, we will strive to correct it. Here I can say that both public and private sectors can co-exist and make India prosper. We want good education to all," he said in his address at the Management Conclave-2017 and Annual Honouring Ceremony of the Lovely Professional University (LPU) near here.

Lauding the LPU for its "global university" standards, the minister said that the Union government was working on public-private partnerships, where competition and collaboration between the two will certainly bring out the best for India.

"The new education policy rests on five pillars -- accessibility, quality, equity, accountability and affordability. We are striving to make all education systems, prevalent in the country, clean and transparent," the minister said.

He said there was greater need to work on new ideas and research and development needs to be encouraged in a big way.

He said that under the Global Research Interactive Network (GRIN), Indian students will be provided scholarships and opportunity to work with reputed foreign laboratories and would have liberty to come back to India and continue with their research.

During the ceremony, the minister awarded members of the LPU staff and students with Rs 20 lakh and rolls of honour.

LPU chancellor Ashok Mittal said that all stakeholders in the education sector were being involved by the HRD Ministry in the education reforms.

Javadekar also inaugurated the national level annual cultural festival of the university 'One India', whose theme this year is 'Celebrating World Peace'.