New laws in pipeline to facilitate pvt participation in education

Realizing that the states alone can not shoulder the responsibility of catering for the much needed resources for improving higher education in the country, the government has decided to propose a few legislations. These will be aimed at encouraging participation of private bodies in education and together working towards improving the higher education scenario.

In India the percentage of students pursuing higher education is very less. There are only 12 percent students who enrol for higher education. The aim of the Ministry of Human Resource Development is to provide the students with sufficient resources and opportunities so as to aid them through their higher education. However, the ministry realizes that it is not possible for the states to shoulder the responsibility alone.

Therefore, the ministry has put together a proposal of introducing three new legislations. Speaking about the plans of the government regarding these legislations, Human Resource Development Minister Kapil Sibal said:

“There are three legislations we are planning to propose for improving higher education in the country, including one allowing domestic and foreign players to set up educational institutes and two others for setting up National Accreditation Authority and the Educational Finance Corporation.”

The setting up of the National Accreditation Authority is expected to cut down the government involvement with the functioning of private institutes. The Authority will shoulder the whole-sole responsibility of evaluating institutes as per the declarations made by them. Private institutes are required to declare the details of their infrastructure, faculty members and quality of education on their websites.

The Educational Finance Corporation, on the other hand will help reduce the fee structures in private institutes as the finance corporation will provide them with long-term commercial borrowings. The corporation will also help students in funding for their own education without having to depend upon their parents for the same.

Sibal shared these plans at the Conscious Capitalism Summit organized by the Confederation of Indian Industry (CII).