The global financial meltdown may have forced the Yale University in US to slash its overall endowment from US$24 billion to US$17.5 billion and reduce its workforce by 300 people, but that has not affected the university's initiatives in India, told a senior varsity official. A group of parliamentarians from the country, cutting across party lines, will leave for US in June to take part in the third edition of the India-Yale Parliamentary Leadership Programme 2009. 'The group will be led by veteran parliamentarian, Abhishek M. Singhvi (Rajya Sabha MP),' told George Joseph, assistant secretary of international affairs at the Yale University. The group will also comprise Rajya Sabha MP Shobhana Bhartia, said the Yale official.
The university had launched the India-Yale University Parliamentary Leadership Programme in 2007 in collaboration with the Federation of Indian Chambers of Commerce and Industry and the India-US Forums of Parliamentarians. 'It educates leaders in government, business and the functioning of the civil society,' said Joseph. 'The common perception is that if your endowments have shrunk, then it will impact the university's initiatives and commitment to preserving and increasing faculty, improving the quality of education and overseas initiatives. But we are not allowing cost-cutting measures to affect the quality of staff, education or the initiatives. Some universities in US have cut cost by as much as 50 percent,' said Joseph, who is responsible for the university's international affairs in Asia barring China. Joseph said there has been no decrease in financial grants for overseas students. The university this term has admitted 14 Indian students for under-graduate courses and all of them have confirmed their enrollment, told Joseph.