Chennai, Aug 24 (IANS): Vice President M. Venkaiah Naidu on Saturday said the draft New Education Policy encourages philanthropic institutions in the field of school education.

Speaking at the 150th Birth Anniversary of philanthropist Dharmamurthi Rao Bahadur Calavala Cunnan Chetty here, Naidu said the Centre was in the process of finalising the policy.

He said the proposed policy has the vision to provide an India-centred education system that contributes directly to transforming the nation into an equitable and vibrant knowledge society.

According to Naidu, it was important to recognize the contribution of wealth creators and distributors like Chetty as they not only provide revenue to the government and jobs to educated youth, but also contribute to social good.

"Mahatma Gandhi recognized the role of the philanthropists in nation building. He saw them as the trustees of public good. He asked them to shun the ownership of their wealth and instead, hold it in public trust for the welfare of country and community," he added.