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Government is planning to replace the fee subsidy across the top educational institutes in India like IITs with direct fund transfer. The government is planning to launch a national-crowd funding platform to facilitate the same.
In one of the many reforms, the Government is planning to replace the fee subsidy across the top educational institutes in India like IITs. The government is planning to come up with direct transfers to students. A national-crowd funding platform will be launched to assist both students and teachers.
The main purpose of this is that each family should at least support one student. The donation movement will be operated on a national level and will connect donors with students and institutions. The target of the movement is to raise around Rs.25,000 crore and support around 10 lakh students through this platform.
These recommendations regarding the same were made by 10 expert groups constituted by the HRD Ministry. The groups were headed by many eminent personalities, educationists Hasmukh Adhia Revenue Secretary, Amitabh Kant, CEO Niti Aayog, Kris Gopalakrishnan, Former CEO Infosys among others. They have also worked on the EQUIP Project- Education Quality Upgradation and Inclusion Programme which aims to revamp higher education in India. The higher education in India and its model requires upgradation to keep up with the industry trends. This will also help the students to find relevant jobs.
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The experts made several recommendations regarding the fee transfer, Former CEO Infosys, Kris Gopalakrishnan said that instead of subsiding the institute, the student's fee should be reimbursed to his account through direct benefit transfer and other students should be given loans to support their education.
