Question: Higher Education Funding Agency (HEFA) approves projects for Rs. 2,066.73 Cr for providing additional funds for research and related infrastructure to how many higher education institutions?
(a) 1573.85 crores
(b) 1875.38 crores
(c) 2066.73 crores
(d) 2166.74 crores
Answer: (c)
Related Facts:
- On November 29, 2017 the second meeting of the HEFA-Higher Education Financing Agency was held.
- In this meeting, Higher Education Funding Agency (HEFA) approved projects for Rs. 2,066.73 Cr to six higher education institutions.
- These institutes include NIT located in Surathkal, in addition to the IIT Institute located in Mumbai, Delhi, Madras, Kharagpur and Kanpur.
- Fund has been sanctioned by HEFA in addition to the grants previously given to these institutions by the government.
- These funds would be used to improve the research infrastructure in these institutions to further improve their standing at the global level.
- As per the scheme, HEFA would mobilise Rs. 20,000 Cr through marketborrowing and would release the same to the Government institution as interest- free loans.
- It is noteworthy that on the initiative of Prime Minister Narendra Modi, the Higher Education Funding Agency (Haifa) was formed in September 2016 with the aim of providing additional financial support to promote research work in higher educational institutions.
- This institution provides financial assistance separately from budgetary provisions to promote research.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=173962
http://indianexpress.com/article/education/cabinet-clears-higher-education-funding-agency-3028149/