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Home / Politics / Policy /  Union Budget 2016-17: Govt may fund private institutions

New Delhi: Finance minister Arun Jaitley said on Monday that the government will provide financial help to select private educational institutions and introduce a long-pending education depository scheme for reducing forgeries.

In his budget speech, Jaitley said the government will strive to make 10 private and 10 public institutions become world class. This seems to be a departure from the current practice wherein private institutions, however credible they may be, have no access to government assistance.

India has been faring poorly in various global rankings of educational institutions. Just two of its higher educational institutions are in the top 200 QS World University Rankings in 2015-16 as against 48 in the US and 30 in the UK.

The academic depository move will help curb educational fraud and help employers verify potential job seekers’ educational qualifications.

As part of the pending move, all education credentials of students from Class X onwards would be digitized and kept in a demat format. If implemented soon after the budget announcement, it will cover 1.4 million schools, 45,000 colleges and 700 universities.

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