The Indian government in its efforts to improve Education provided in India has now approved the establishment of a Higher Education Financing Agency (HEFA). This will aid in the creation of high quality infrastructure in premier educational institutions in India like the IITs/IIMs/NITs and other institutions of such order. This was approved in a meeting of the union Cabinet, chaired by the Indian Prime Minister Narendra Modi.
The finance Minister Arun Jaitley in his budget speech mentioned that HEFA will be a non-profit organisation that will leverage funds from the market along with donations and CSR funds. It will have an initial capital base of Rs 20 billion. 10 billion from the government and another 10 billion from identified promoters. This will be raised to Rs.200 billion.
HEFA will fund state-of-the-art research labs and other infrastructure projects through a 10 –year loan. All centrally funded Higher Education Institutions will be eligible to be part of HEFA. Each member will have a credit limit based on the specific amount they escrow to HEFA from their internal accruals
The British Council offers a range of opportunities for UK institutions for partnerships and collaborations. We will share more details once we know more about the local Higher Education Institutions that have received HEFA funding. If you would like to explore collaborative arrangements with Indian institutions please send an email to Shruti Khanna and Cc to siemsouthasia@britishcouncil.org
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The Indian government in its efforts to improve Education provided in India has now approved the establishment of a Higher Education Financing Agency (HEFA). This will aid in the creation of high quality infrastructure in premier educational institutions in India like the IITs/IIMs/NITs and other institutions of such order. This was approved in a meeting of the union Cabinet, chaired by the Indian Prime Minister Narendra Modi.
The finance Minister Arun Jaitley in his budget speech mentioned that HEFA will be a non-profit organisation that will leverage funds from the market along with donations and CSR funds. It will have an initial capital base of Rs 20 billion. 10 billion from the government and another 10 billion from identified promoters. This will be raised to Rs.200 billion.
HEFA will fund state-of-the-art research labs and other infrastructure projects through a 10 –year loan. All centrally funded Higher Education Institutions will be eligible to be part of HEFA. Each member will have a credit limit based on the specific amount they escrow to HEFA from their internal accruals
The British Council offers a range of opportunities for UK institutions for partnerships and collaborations. We will share more details once we know more about the local Higher Education Institutions that have received HEFA funding. If you would like to explore collaborative arrangements with Indian institutions please send an email to Shruti Khanna and Cc to siemsouthasia@britishcouncil.org
Read the original story at: