Facing criticism for not seeking approval from AICTE for B.Tech courses being offered by its 24 colleges, Delhi University has directed the principals concerned to do the required in this regard, with barely a few days remaining for the deadline.

The colleges were asked to seek support from the All India Council for Technical Education (AICTE), but DU still needed time for the February 20 deadline. In an official communication to the principals, the Pro-Vice Chancellor, DU, said, “The University is solemnly seized of the matter of seeking AICTE recognition for B.Tech programmes that are being offered in the colleges at present. The process to be followed for seeking this approval shall be initiated by your office.” The colleges need to send applications for AICTE approval latest by February 19.

DU teachers, last week, demanded the VC’s involvement in the issue as students held a protest regarding the same outside the Arts Faculty. B.Tech programmes in Computer Science, Electronics, Food Technology, Instrumentation Electronics and Polymer Science were introduced as a part of the Four-Year Undergraduate Programme (FYUP), scrapped last year following UGC intervention. UGC had, however, directed DU to continue with the B.Tech programmes but only for students admitted in academic year 2013-2014.

DUTA President Nandita Narain, however, said that no directives were given out earlier. “We have got the guidelines now and we will proceed with the needful. No directives were received earlier,” commented a principal, on the condition of anonymity.

Planning to apply for a higher education course but worried about funds? There is help at hand. The government is eyeing a proposal to make education loans cheaper through an interest funding scheme – a subsidy system through which the government pays to the banks straight away, making them to charge lower rates from student loan borrowers, especially from a particular income group. Besides, students belonging from low income families will be given preference for availing such loans.

Finance minister Arun Jaitley made an announcement about the scheme in the forthcoming budget. In the present scenario, banks, on an average, charge 12.88% for education loans, in comparison to 12.17% on car loans. As on March 31, 2014, education loans given out by Indian banks stood were of 60,071 crore. Over the last few years, banks have become aware of giving out education loans beyond a certain limit citing high risk of default. The Indian Banks Association (IBA), an industry body of banks, recommended the setting up of a guarantee fund. “Education loan is critical and students must be able to avail loans to pursue higher studies, but to ensure that non-performing assets (bad loans) do not rise, there is a need to create a guarantee fund for education loans below 4 lakhs,” said Soumya Kanti Ghosh, chief economic adviser, State Bank of India, as reported by Hindustan Times.

The issue is also likely to be raised in the review meeting to be held by Jaitley , with public sector bank chiefs on March 5.

The first professional college of Welfare Education Society, Army Institute of Technology is expecting to have higher number of placements this year. Last year, 85 per cent of placement registrations took place. According to a report in Times of India, AIT principal BP Patil said, “We had an excellent placement record for 2013-14 where 235 out of 276 students were placed with leading companies.”

The institute will be going to celebrate its foundation day on February 24. Every year, the institute gives award in different categories. This year, the institute has decided to give awards to the best outgoing student Lavpreet singh, lifetime achievement award will be offered to author Achyut Godbole and Vishnu Mujumdar, founder of the institute of applied research, Pune. The chief guest of the event will be army southern command, headquarters, chief signal officer Maj. Gen. Rajeev Sabherwal.The institute was recognized on February 24, 1995 as the first professional college of the army Welfare Education Society. An initiative by the late Gen BC Joshi, former Chief of Army Staff.

“Last year, the highest salary package offered was Rs 12.5 lakh per annum. This year, it is Rs 15 lakh per annum so far. We expect the figure to rise,” said training and placement officer Manoj S Khaladkar.

Making India the skill capital of the world is one of the visions of Prime Minister Narendra Modi. While this will be a journey, the Union Budget 2015 does provide an opportunity for the government to bring to the forefront policies and initiatives that will be undertaken to achieve the vision.

A Deloitte study has recognised the Indian education sector as a ‘sunrise sector’ for investments. This is because the sector offers huge potential to investors in the regulated as well as non-regulated markets. The education market in India, which is at present valued around $150 billion, is headed for a major leap forward in the years to come. As a percentage of GDP, expenditure on education has gone up from 2.9% in 2008-09 to approximately 3.4% in 2014-15. Compare this with the Kothari Commission (set up in 1964-65) and National Education Policy recommendation suggestion of allocating 6 percent of GDP towards education.

Statistics reveal that the allocation to the education sector received a 17 percent jump for fiscal year 2013-14 and approximately 12.5 percent for fiscal year 2014-15. However, it is still inadequate considering the sectoral requirement.
Thus, it is ironical to note that though the outlay of 6 percent of GDP was recommended almost 50 years ago, we are still far from reaching the mark in view of the present outlay not crossing even 4 percent of GDP.

The need of the hour is an increase in public expenditure on education along with incentivising the sector for private investment. A sound and efficient education system combined with growth and opportunities in the Indian economy will enable restricting flight of intellectual capital. There is a need to substantially add quality institutions, lest Indian students will have to look overseas for securing the desired level of education. Education tourism could be the next opportunity for India. Policies could be formulated that focus in this direction. India can well be seen as being intellectual capital of the world.