I agree with Rashmi on her opinions and views on the Indian Educational System. Receiving a proper education should not be viewed as accomplishing a major phase on the tapestry of life. It should be instead viewed as the foundation to mould yourself as a better person. But sadly this is one aspect which is ignored in the Indian Educational system. I should know because I am a victim of it. You could say that I was the first from the last in my class. The biggest issue in this Country is not the system or the content but the manner in which all that rich content is fed to the student. Lets assume that you out to a big feast with a rich mouth watering spread lined out in front of you. You can enjoy the feast provided you sample everything in moderation. You will have a serious problem if you stuff everything down all t once. This is exactly what the teachers in the present education system are doing to children in classrooms all across India today. The Gluttonous ones (Over here the ones with the ability to cram infinitely) will do well but the lean ones (the ones with real potential) end up suffering.
As far as content goes, I would say that we are way ahead of the US or the UK