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The Higher Education Department of the Ministry
of Human Resource Development has finalized and released a five-year vision
plan named Education Quality Upgradation and Inclusion Programme (EQUIP)
Key Focus of the EQUIP includes a) to improve
access to higher education, especially for underserved communities; b) improve
the gross enrolment ration; c) improve teaching and learning processes; d)
build educational infrastructure; e) improve the quality of research and
innovation; f) use technology and online learning tools; and g) work on
accreditation systems, governance structures and financing.
It would be funded through extra-budgetary
resources and by mobilising money from the marketplace through the Higher
Education Financing Agency (HEFA).
HEFA is a joint venture between the HRD Ministry
and Canara Bank, set up as an SPV in 2017, with an aim to raise ₹1 lakh crore
to finance infrastructure improvements in higher education by 2022
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