I am a teacher and I know that our system is really messed up. But at the same time, our government (because even Private Universities, barring a few good ones, too follow what the government asks them to do) is really working hard to bring in good practices into the classroom.
There are smart classrooms, there are continuous additions and omissions from the syllabi, and above all the most important aspect is bringing in good teachers.
I believe, teaching still remains as one of the least 'desired' professions because the money isn't really that great.
As I am an engineer, I can surely say that Govt. Engineering Institutes (at least the Nationalized ones) are paying real good money even at the entry level.
So, if there's good money, you'll definitely get interested and passionate folks to join the profession.