Singh said this at the inaugural function of 4th Assocham International Educational Fair here. The proposal has been forwarded by Assocham.

The proposal envisages the government standing as guarantor for students availing educational loans to ensure that the loan obtaining process becomes easier and the burden does not fall on the family of the student.

It was one of the principal recommendations contained in a 20-point charter of suggestions, the body has submitted to the HRD Ministry for reforms in higher education.

Earlier, addressing the function, the minister cautioned against initiating reforms in the education system just because "talk of reforms was fashionable".

"It's not that nothing good has come out of our education system. Look at the recent achievement by our space scientists," he said adding: "We are not foreclosing opportunities for cooperation with outside world or private sector but we should not be dependent on borrowed ideas."

"We cannot leave it to the market forces to control higher education," the minister said, apparently referring to another suggestion of the body to open up the sector and allow higher education institutes to freely fix fees after keeping 25 per cent seats for the underprivileged at a nominal fee.

"Education cannot be bought and sold over the counter. Higher education will be meaningless if it is not accessible to all," Singh said.

Singh maintained that infrastructure in universities will have to be further strengthened and the "culture of research and inquiry" will have to be brought back.

To a question if there was any "misconception" after yesterday's Supreme Court order on OBC quota in higher educational institutions, he said there was none.

Minister of State of HRD D Purandeswari said shortage of faculty in higher education is a "pressing problem" and admitted that resolving this issue will prove to be a "Herculean task" in view of implementation of the OBC quota.

She identified increasing the gross enrolment rate, constant skill improvement, maintenance of quality in education and expanding the higher education infrastructure with the setting up of more universities, IITs and IIMs as other areas of importance.

Private investment in the sector is being encouraged but there should be a regulatory framework to check commercialisation and racketeering, Purandeswari said.