• The future of Indian universities (public and private) will significantly depend upon our ability to harness the possibility of individual, institutional and corporate philanthropy for the purposes of higher education.
• Companies Act, 2013: had the potential to transform the relationship between business and society.
• Ministry of Corporate Affairs: 3,118/5,097 contribution for CSR
• There has been very little strategic thinking and innovation in the CSR
• Companies in India have generally not understood the larger goals of CSR
• Every aspect of a university’s growth requires substantial financial
1. hiring of world-class faculty;
2. developing research centres;
3. funding research projects;
4. having rewards and incentives for faculty publications;
5. building physical infrastructure;
6. making available scholarships for students;
• Narayana Murthy Committee recommendations
a. acknowledged the importance of stronger private initiatives
b. free land for 999 years
c. 300% deduction in taxable income to companies for contributions towards boosting higher education
d. 10-year multiple entry visas for foreign research scholars
e. ₹1,000 crore scholarship fund (with the tax exemption for corporate sector contributions) to promote greater accessibility of higher education to the underprivileged
• The government has initiated five major reforms in the areas of regulation, accreditation, rankings, autonomy and internationalisation.
• Marginal increases in budgets and creative reallocation of resources to show more spending on higher education are not going to help.
• Higher education and universities (private or public) by their very nature ought to be not-for-profit and established through philanthropy.