Dear Sir,
Greetings!
The Finance Minister’s allocation to education, especially higher education will reach elite IITs and NITs and nothing substantial has been added to the existing allocation to primary education. While it is unfair for all types of institutions to expect a fair share of the pie, the budget could have categorized infrastructural bank loans to private higher educational institutions under priority sector. This move certainly does not call for any separate budget allocation but just a mere categorization. RBI, working tandem with MRHD, can easily to identify deserving private institutions to which such special status loans can be given. At present, loans for private educational institutions are categorized under risk real estate. On one hand, the MHRD is ambitiously aiming at a 15% Gross Enrolment Ratio and on the other, private institutions are scrambling for funds to create infrastructure. Without such additional incentive in the lending category, it is not only difficult for private higher educational institutions to meet competition from foreign Universities but also a challenge to raise funds to expand infrastructure. The Finance Minister can consider categorizing such loans under priority sector at concessional rates, as private institutions cater to 90% of the total higher education enrolment.
With best regards.
S.Vaidhyasubramaniam
Dean-Planning & Development
Thanjavur - 613 402,
Ph: 91 4362 264100-108, 304000-010 Dir: 304103
Fax: 91 4362 264120
URL: www.sastra.edu
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