The HRD Minister, Prakash Javadekar announced that the Higher Education Financial Agency was approved on Thursday, December 29, 2016, and Rs.2,000 Crore has been allocated for it. The minister made the announcement on Friday, December 30 at the 110th convocation ceremony of Savitribai Phule Pune University.
The minister informed that this money will be utilized to leverage more funds. He also added that the Prime Minister scholarship will be started soon to create research opportunities for the students.
Talking about the educational reforms, Javadekar said that the main objective of his ministry is to retain the talent within the country. The minister talked about brain drain and said that best Indian students leave the country in search of good resources, infrastructure and research opportunities.
The minister informed that faculty and laboratories of international standards will be provided to students who seek higher education and research programmes.
Javadekar informed that a global research interactive network has been started by his ministry through which they can get scholarships. The network will also create opportunities for students to work with top foreign laboratories and come back to India.
The minister said that students will be given offers to go abroad for a year to learn and return back to the country. The patents created by the students will remain in India, added the minister. He also encouraged the students to be a part of this network.
Javadekar also informed that close to 600 faculties from across the globe will be visiting India in 2017. The National Academic Depository (NAD) was also inaugurated by him. He said that the online depository will enable students to access degrees from any part of the world.
He also added that the government is looking forward to starting about 20 world-class universities in India. out of these 10 universities will be public and the other 10 will be private.