Dipping Student Quality at IITs: Who is to be blamed?

Now when the lights have dimmed, the "quality" of recent graduates is questioned. Some IITians disagree that 'quality' in the existing dispute is an allusion for "poor communication and social skills." Contrasting from the earlier IITians: urban, cosmopolitan, English speaking, numerous of the current lot are from smaller towns with poor command over English. The technical skills might well be the same, but the lack of soft skills becomes the basis for conclusion and discernment.
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Lacking hesitation, batches at IITs today look more to the returns than to the learning. As a young IIT student says, "Murthy cannot know the quality of current IIT students. Infosys pays so little, I am not even sure they are called to our campus for placements anymore and if they do come and get some, it's from the bottom of the class." Therefore, the whole situation leaves us with big questions like how to improve the "quality" of IIT graduates? Will the coaching disappear? And what is the aim of getting into an IIT institution?