Montek Singh Ahluwalia: Stop funding universities

Planning Commission Deputy Chairman Montek Singh Ahluwalia has stressed the idea of funding students instead of universities.

"Stop funding the universities and just fund the students then they go to universities that are worth paying for. I am in favour of raising the fees across the board and giving scholarship that will enable students to go to universities which actually do a good job," he said while addressing a function here to unveil a report on corporate sector participation in higher education.

"Public resource needs to grow in areas of highest priority and in education sector, primary and secondary education is much more important. You cannot have world class universities unless you have world class university entrance. Corporate sector should be taking interest in setting up educational institutions because the amount of public resources available for health and education is limited. If you don't bring the private resources, you will not get the end result you want," he added.

Human Resources Minister Kapil Sibal said "Private sector is not going to invest unless you give them appropriate environment and the fundamental (requirement of private sector) is land".

On providing loans to the private sector for setting up educational and health institutions in the country, he said "The banks must be asked to give long term loans to educational institutions for 20 to 25 years to set up institutions as nobody is going to borrow at 12 per cent or 16 per cent for 7 years."

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