{"id":249120,"date":"2023-06-22T20:46:23","date_gmt":"2023-06-22T15:16:23","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=249120"},"modified":"2023-08-31T16:34:55","modified_gmt":"2023-08-31T11:04:55","slug":"go-for-the-money-other-higher-education-institutions-should-follow-iit-bombays-example-make-aggressive-fundraising-efforts","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/go-for-the-money-other-higher-education-institutions-should-follow-iit-bombays-example-make-aggressive-fundraising-efforts\/","title":{"rendered":"Go For The Money: Other higher education institutions should follow IIT Bombay\u2019s example, make aggressive fundraising efforts"},"content":{"rendered":"\n<p><b>Source:\u00a0<\/b>The post is based on the article\u00a0<b>\u201cGo For The Money: Other higher education institutions should follow IIT Bombay\u2019s example, make aggressive fundraising efforts\u201d<\/b>\u00a0published in\u00a0<b>The Times of India\u00a0<\/b>on\u00a0<strong>22nd <\/strong><b>June\u00a0<\/b><b>2023<\/b><\/p>\n<p><strong>Syllabus<\/strong>: GS 2 \u2013 Education.<\/p>\n<p><strong>Relevance<\/strong>: About fund crunch in Higher Educational Institutes.<\/p>\n<p><strong>News<\/strong>: Nandan Nilekani donated $38. 5 million to his alma mater IIT Bombay. This raises the question of why many of India\u2019s public education institutes are so lagging in fundraising.<\/p>\n<h2>About the performance of the Higher Education Financing Agency (HEFA)<\/h2>\n<p>It is a designated body to help raise funds. It was founded in 2017 and is a non-profit lending company for higher education institutes\u2019 infrastructure projects.<\/p>\n<p>By the end of last year, HEFA had approved 141 projects worth just \u20b946,700 crore, against the target of \u20b91 lakh crore.<\/p>\n<p>HEFA would raise funds from the private sector, but no details are available. The government as an equity contributor put in \u20b91 lakh in 2022-23, and zero in 2023-2024.<\/p>\n<h2>What are the impacts of the fund crunch in Higher Educational Institutes?<\/h2>\n<p><strong>a)<\/strong> 11,000 teaching posts are vacant across institutions, including central universities, <strong>b)<\/strong> When fees are increased, students either drop out or move overseas, as in the case of medical students. Since 2017, over 30 lakh students have gone abroad, 7. 5 lacks in 2021 alone.<\/p>\n<h2>What should be done?<\/h2>\n<p>The government understood that government funding alone cannot make institutions world-class.\u00a0So, the government asked central universities to set up endowments, including FCRA accounts.<\/p>\n<p>NRI corporate leaders are more generous in giving endowments to American universities. But most of them have contributed little to India\u2019s institutions as they lack effective sales pitches like IIT-Bombay. India has 169 billionaires; 1,103 individuals with \u20b91,000 crore-plus wealth. They also donate less. So, India should tap private wealth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source:\u00a0The post is based on the article\u00a0\u201cGo For The Money: Other higher education institutions should follow IIT Bombay\u2019s example, make aggressive fundraising efforts\u201d\u00a0published in\u00a0The Times of India\u00a0on\u00a022nd June\u00a02023 Syllabus: GS 2 \u2013 Education. Relevance: About fund crunch in Higher Educational Institutes. News: Nandan Nilekani donated $38. 5 million to his alma mater IIT Bombay. This&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/go-for-the-money-other-higher-education-institutions-should-follow-iit-bombays-example-make-aggressive-fundraising-efforts\/\">Continue reading <span class=\"screen-reader-text\">Go For The Money: Other higher education institutions should follow IIT Bombay\u2019s example, make aggressive fundraising efforts<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,8131,10496],"class_list":["post-249120","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-social-issues","tag-times-of-india","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700770870,"cached_date":1704916841},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/249120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=249120"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/249120\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=249120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=249120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=249120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}