The Human Resource Development (HRD) ministry will look to raise ₹1 trillion from the market for funding education research and infrastructure. The move is being seen by the government as a step that will push for research and academic infrastructure with social equity.
According to reports, the funds will be raised from a clutch of sources, including education bonds, commercial borrowings and corporate houses.
The money will then be given as loans to government-controlled higher educational institutions, including medical colleges, as well as central government-run school chains such as Kendriya Vidyalayas (KVs) and Navodaya Vidyalayas (NVs)
The funds will be raised through the Higher Education Financing Agency (HEFA), a recently minted non-banking financial company under the HRD ministry, who’s capital base has been increased to ₹10,000 crore from the current ₹3,300 crore. (Story courtesy : Wires)