Roadmap for IITs to fund themselves | delhi | Hindustan Times
Today in New Delhi, India
Jan 17, 2017-Tuesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Roadmap for IITs to fund themselves

delhi Updated: Aug 19, 2010 14:34 IST
Charu Sudan Kasturi
Charu Sudan Kasturi
Hindustan Times
Highlight Story

The Indian Institutes of Technology may for the first time themselves fund up to 50 per cent of their financial needs soon, under a new financial model expected to dramatically enhance their autonomy from the government.

Way to independence?

The IITs at present depend completely — 100 per cent — on grants awarded directly by the HRD ministry, unlike IIM Ahmedabad, Bangalore and Calcutta, which are virtually independent.
A model being finalised may for the first time allow the IITs to themselves fund up to 50 per cent of their financial needs.
The funds can be generated through a combination of gradual fee hikes backed by scholarship schemes, greater collaboration with industry and government on revenue-generating projects and tapping alumni.

The model is being finalised by a human resource development ministry panel under former atomic energy secretary Anil Kakodkar to prepare an autonomy blueprint for the IITs, three committee members independently confirmed to HT.

But gradual fee hikes may be inevitable under the new model, the sources accepted.

The IITs at present depend completely – 100 per cent -- on grants awarded directly by the HRD ministry, unlike Indian Institutes of Management in Ahmedabad, Bangalore and Calcutta, which are virtually independent.

The financial independence has given the B-schools a bargaining power that enables them to function with far less government intervention than the IITs.

Recognising the correlation between financial independence and autonomy, HRD minister Kapil Sibal -- who appointed

the Kakodkar committee in February — is keen that the IITs increasingly fund themselves.

The Kakodkar panel’s mandate is to draw up an autonomy blueprint that can help catapult the IITs into the top few institutions across the globe.

The IITs can generate funds through a combination of gradual fee hikes backed by scholarship schemes to help all needy students, greater collaboration with industry and government on revenue-generating projects and tapping alumni.

<