The Union government on Friday said it was setting up an empowered committee to select 10 public and 10 private educational institutes, for upgrade to the status of Institutions of Eminence by March next year.
This comes in the wake of the Lok Sabha passing the Indian Institute of Management (IIM) Bill, granting wider autonomy to all 20 IIMs in the country.
A senior government official said these Institutions of Eminence would be made free from most guidelines and regulations of the University Grants Commission (UGC) and the All India Council for Technical Education (AICTE), which govern public and private universities in the country.
These institutes would have the freedom to decide on fees, on hiring foreign faculty and their salaries. And, be free to admit up to 25 per cent foreign students. Nor would these institutions need UGC permission for their curriculum. The government said the UGC role would be restricted to awarding of (recognised) educational degrees.
The government also said it would aid each of the 10 chosen public institutions with a Rs 1,000 crore grant over a period of five years. The chosen private universities or institutions would benefit from the lesser regulatory framework.
“The empowered committee would have five to six members. These would be selected by a panel of the cabinet secretary, higher education secretary and the UGC chairman,” the official said.
The government believes this would help these institutes break into the ranks of the top 500 world universities in the next 10 years and then into the top 100.