Friday, March 15, 2013

Budget 2013: Grant infrastructure status to higher education sector

In a memorandum listing its demands, suggestions and proposal for the Budget 2013, the Federation of Indian Chambers of Commerce and Industry (FICCI) has asked govt to grant infrastructure status forhigher education sectorFICCI said that the status is necessary to infuse more capital in the sector. "The status would give legal and tax treatment similar to other infrastructure projects," FICCI added. FICCI also has suggested that top priority should be accorded to the setting up of National Higher Education Finance Corporation (NHEFC) in the 12th Five Year Plan for creating alternative avenues of revenue generation for higher educational institutions/universities.
"NHEFC is an initiative by the Government aimed at fee rationalization, student financing and education financing mechanism for the higher educational institutions. It provides loans at concessional rates of interest to agencies for establishment of institutions in educationally backward areas," FICCI said.

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