‘Privatisation, corporatisation of CUs’: Former DU EC member on central university endowment fund
Former DU Executive Council member said that endowment fund in CUs will lead to private players entering their financial management.
Vagisha Kaushik | August 17, 2022 | 02:54 PM IST
NEW DELHI : Former Delhi University Executive Council member, Rajesh Jha, termed the Ministry of Education’s move to set up endowment funds in central universities ‘a step towards privatisation and selling off of universities’. MoE recently issued ‘Guidelines for Central University Endowment Fund’ directing universities to create accounts and CUEF board to get donations and invest funds.
Also Read | ‘Senseless’: Several students oppose JEE Main, NEET, CUET merger proposal, express concern
Sharing the guidelines, Jha said in a tweet, “Another concrete step by MoE towards privatisation & sell off of the universities in the name of endowment fund - 1. CUs forced to fix targets 2. In the name of donors, the pvt players to enter in CUs' financial management 3. Corporatisation of CUs (pt 6).”
Another concrete step by MoE towards privatisation & sell off of the universities in the name of endowment fund -
— Rajesh Jha (@jharajesh) August 16, 2022
1. CUs forced to fix targets
2. In the name of donors, the pvt players to enter in CUs' financial management
3. Corporatisation of CUs (pt 6) pic.twitter.com/nUjT4n9mQ7
Jha alleged that in the name of donors for funds, private industries will manage finance of central universities. He called the 6th point in the MoE guidelines which states, “the Governing Board of the endowment fund may decide on how the fund will be managed and the need to open a new section 8 company or trust. If the latter option is taken, then the vice chancellor will be the chairman (ex-officio) of the board of this company or trust,”, corporatisation of the universities.
Also Read | JEE, NEET, CUET aspirants protest at Jantar Mantar demanding extra attempt
The guidelines include creating a separate bank account for donations, maintenance of separate and transparent accounting, investment of donations for intended purposes, etc. The Board will take the decision about the utilization of funds and place the report in the finance committee meeting of the university.
Follow us for the latest education news on colleges and universities, admission, courses, exams, research, education policies, study abroad and more..
To get in touch, write to us at news@careers360.com.
Next Story
]Gurugram schools deny admission without transfer certificates; parents harassed
Haryana government schools require TCs and marksheets from previous schools to grant admission to students. Private schools are charging hefty amounts for TCs and parents, many of them migrant workers who have moved to the district with their families, are finding it hard to pay.
SanjayFeatured News
]- Lok Sabha Election 2024: Over 50 students, teachers arrested over past 5 years
- Diversity and inclusion ‘all on paper’, writes a transgender activist on experience at work
- ‘This is terrible’: West Bengal teachers who fought recruitment scam dismayed by cancellation
- More women joining engineering with scholarships, affirmative action in admission, placements
- BTech in Marathi: How PCCOE Pune is showing the way
- ‘We hope to admit students from outside Kerala’: CET Trivandrum principal
- IIIT Bangalore plans to launch BTech programmes, says director
- COMEDK UGET ‘model exam’ for engineering colleges: Executive Secretary
- Top IT companies have cut thousands of jobs in past months, reports on headcounts show
- Project to attract foreign students to IITs still a work-in-progress