New Delhi, July 15, 2018: The Human Resource Development (HRD) Ministry today accorded Institutions of Eminence status to three public and three private institutes, enabling them to get full autonomy and special incentives to project them as “world class universities”. Among the government institutes are included, Indian Institute of Technology (IIT) Bombay, IIT Delhi, and Indian Institute of Science (IISc) Bangalore, and among private institutes are included JIO Institute, Manipal University, and BITS Pilani. According to the HRD Ministry rules, the public institutes will receive government funding for next five year, while the private institutes will not be considered for the funding according to reports published in ndtv.com
1. The Institutes of Eminence (IoEs) selected from public sector will be given a grant of Rs. 1000 crore by the government for five years. All the six institutes have also been granted complete autonomy.
2. The move to accord “Institutes of Eminence” is part of a scheme of the HRD Ministry to select 20 IoEs — 10 public and 10 private — that will enjoy complete academic and administrative autonomy.
3. An Empowered Expert Committee (EEC) was constituted to select the IoEs from the 114 applications which had been received in the Ministry for the status of IoEs. The committee is headed by N Gopalaswami, former Chief Election Commissioner (EEC). It had other three members including Professor Tarun Khanna, Director of South Asia Institute at Harvard University, Ms. Renu Khator, President of University of Houston and Pritam Singh, former Director of IIM Lucknow.
4. According the rules, the selected IoEs will have freedom to fix and charge fee from foreign students without restriction and would have the freedom to determine the domestic students fees, subject to the condition that no student who gains admission should be turned away for lack of finance.
5. The IoEs shall have flexibility of course structure in terms of credit hours and number of years to take a degree, after the approval of its Governing council and subject to broadly conforming the minimum prevailing standards.
6. The IoEs will have freedom to enter into academic collaboration with top 500 Global ranking institutions without approval of the Government or UGC except with institutions from negative list of countries determined by the Ministry of External Affairs or the Ministry of Home Affairs.
8. After describing the decision as “landmark decision”, the HRD Minister stated that, “While today’s decision gives virtually full autonomy, it will also ensure that no student will be denied opportunity of education with various measures like scholarships, interest waiver, fee waiver and ensure all equity principles.”
9. “This will facilitate them to grow more rapidly and at the same time they will get more opportunity to scale up their operations with more skills and quality improvement so that they become world class Institutes,” he added according to ndtv.com
10. Top corporates were also competing for the private institutes category with the Reliance Group applying for the Reliance Foundation Institution & Research in Maharshtra, Airtel for Bharti University (Satya Bharti Foundation) in Delhi, and Anil Agarwal’s Vedanta University in Odisha. KREA University which has former RBI governor Raghuram Rajan as its advisor, Indian School of Business, Hyderabad, Indus Tech University in Delhi and Acharya Institutes of Bangalore were among other applicants.