Central varsities looking at PPP model to raise funds

Oct 17, 2012 by

Source: The Indian Express via PwC – EdLive

The 40-odd central universities are mulling novel fund-raising mechanisms such as bringing in public-private partnerships (PPP) for infrastructure creation and permitting more supernumerary seats for foreign students. At a meeting of vice-chancellors of central varsities held in August, it was decided that they should tap external sources for financial support besides the UGC grants. The vice-chancellor of Central University of Himachal Pradesh has been deputed to draft possible options for PPP. Vice- Chancellors raised the issue of existing restrictions on offering of supernumerary seats for foreign students — an issue that the HRD ministry and the UGC have agreed to re-examine.

Meanwhile, the UGC has been asked to finalise norm-based grants for operating (non-plan) expenditure of universities with the right incentives for central universities to mobilise resources. Norm-based funding process for central universities is likely to be adopted from the next academic session, 2013-14. In order to enhance the overall brand value of central universities, the UGC will assist them in establishing niche areas of excellence. To ensure the centrality of research at universities, 40-50 research parks will be set-up across the country and the vice-chancellor of Hyderabad University will coordinate these efforts. Following the Yale model of connecting research to public utilities is on the cards with vice-chancellors of the Central University of Jharkhand and University of Delhi working on it.