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HRD ministry invites suggestions for world class institutes- 8-Oct-2016
New Delhi: The 20 'world class educational institutions' that the Modi government plans to create should be multi-disciplinary, have a mix of foreign and Indian students with a faculty-student ratio of not more than 1:10 after three years of being chosen.
These institutes, 10 from public and 10 from the private sector, should also have a student enrollment of at least 20,000 students in a period of 15 years, as per a draft regulatory framework prepared by the Human Resources Development (HRD) ministry, which has sought suggestions from the public for these institutes.
The draft states that these should also figure in top 500 of any of the world renowned ranking frameworks such as the Times Higher Education World University Rankings or QS or Shanghai's Jiao Tong University in the first 10 years of setting up or being declared as 'World Class Institution' and come in the top hundred eventually over time.
Finance Minister Arun Jaitley in his budget speech had announced that the government would work to create 20 world class institutions.
According to these drafts, one for the government institutions and another for deemed universities, these learning places should admit students on merit and not turn them away because of their lack of finances.
The draft guidelines for government institutions also lay down that financial assistance would be provided to government institutions which have been declared world class.
The assistance would be up to an amount of Rs 500 crore to each institution in a span of five years from 2016-17 to 2020-21.
The annual release would be dependent on the institution achieving the financial and physical outcomes laid down in its implementation plan.
In the case of world class institutions deemed to be universities not owned or controlled by the government, a corpus fund of Rs 200 crore shall be created and maintained permanently.
The interest accrued on the corpus fund may be used only for the purpose of development of the world class institution deemed to be university, as per the draft released by HRD for comments.
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