The Government today stressed the need for the participation by the private sector to carry out reform measures in higher education system in the country. This was stated by Human Resource Development Minister Kapil Sibal after releasing the Narayan Murthy Committee report on corporate paticipation in higher education. Mr Sibal said, to encourage private sector participation in setting up higher institutes, an appropriate environment needs to be created by giving land free of cost or at subsidised rates. He urged banks to provide low cost finance by giving long term loans for a period of 20 to 25 years to such private or corporate players. He also called for providing loans at cheaper rates to students to pursue higher studies. He underlined the need to change the administrative structure of higher institutes to improve standards of the education system in the country.
Mr Sibal said that he has suggested the setting up of 50 research parks in the 12th five year plan.
Our correspondent reports that the Narayan Murthy Committee recommendations call for creating enabling conditions like financial and administrative autonomy, resources, access to funds, freedom to accredit to make the higher educational system robust and useful to attract investments . Other recommendations for improving the quality of education include participation by the corporate sector to enhance research focus and faculty development and developing new knowledge clusters and hubs.