Shiksha for the masses

An interesting post on venturewoods about e-learning+social-networking: elearning for all. Seems to be a good idea, and good thing is that all the technology requirements for such a venture is available. However, that sets me thinking: can such a technology be deployed to make the masses learn things? In such cases, I always try to look for 2020 vision of our president (soon to be ex-), and I found about http://www.eshikshaindia.in/, a portal for e-learning exclusively for teachers, built using open-source technologies. This also turned up president’s speech on the occasion of its inaugration (here), which, as usual, is pretty insightful and refers to his 2020 vision. He again talks about the gap between people being churned out of the universities and people who are employable. It is scary to note that there are about 10 million youths injected into the employment market every year (7 million 10/10+2 passout looking for a job, 3 million after higher studies).
What are we doing to bridge the gap of employability as well as creating enough opportunities at this rate? What do you think can be done?