Daniel Bell, the Harvard sociologist, forecast that an emerging "service society" would surface as machines began to replace muscle power on the farm and in the factory. Bell envisioned a service society elbowing its way past the industrial era because there was no way to anticipate the impact of a microelectronic information epoch which was still in its early infancy. As education is the only device to mould the contemporary society in proper setting and to train the people to meet the current challenges, the present project is designed With this changing scenario in different spheres of society, the contemporary educational developments are portrayed in the present work. Efforts are made to incorporate latest research in the concerned field. We are grateful to all the learned authors, whose writings are cited or substantially made uses of in the present work.