In a significant development, Government today approved a proposal that will encourage states to undertake projects in public private partnership in the higher education sector based on the concept of viability gap funding.
The Rastriya Uchchatar Shiksha Abhiyan (RUSA) 2.0, cleared by the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi, encourages states to create facilitating mechanisms to ease restrictions for enhancing private investment in the sector.
"With a view to ensure greater resource flow to the State higher education sector, RUSA 2.0 will encourage states and institutions to undertake projects in a public-private partnership mode based on viability gap funding," a government statement said.
RUSA 2.0 extended till March 31, 2020, seeks to increase gross enrolment ratio by 30 per cent during this period, creation of 70 new model degree colleges and 8 new professional colleges.
Besides, it seeks to enhance quality and excellence in 10 select State universities and 70 autonomous colleges, providing infrastructural support to 50 universities and 750 colleges.
RUSA is an overarching scheme for funding the state universities and colleges to achieve the aims of equity, access and excellence. It also seeks to improve the overall quality of existing higher educational institutions by ensuring their conformity to prescribed norms and standards.
Under RUSA 2.0, an on-line virtual platform of infrastructure and equipment (inventory) will be created so that institutions can share these resources, the statement said.
The scheme will also focus on bringing about a significant improvement in well performing state public universities and autonomous colleges through programmes such as 'enhancing quality and excellence in select state universities' and 'enhancing quality and excellence in autonomous colleges', it added.