-By ArdorComm News Network
August 11, 2023
The University Grants Commission (UGC) has released a draft plan for the development of Higher Education Institutions (HEIs), outlining strategies such as private sector collaboration for funding, faculty evaluation based on rankings, and the establishment of a supportive “emotional infrastructure.”
The main goal of these guidelines, according to UGC Chief M Jagadesh Kumar, is to assist universities and colleges in achieving academic, administrative, and financial self-reliance.
Under the updated guidelines, HEIs are now required to identify and prioritize various funding sources to enhance their financial infrastructure. These sources include government grants, alumni contributions, partnerships with private sector entities, and fundraising campaigns.
Furthermore, HEIs must devise sustainable revenue models that draw from multiple avenues. These encompass student tuition fees, government grants, subsidies, earnings from research projects in collaboration with both government and private sector entities, as well as endowments.
The revised draft emphasizes that for a well-established HEI, each funding source should ideally contribute a similar percentage to the overall revenue. The proportion may vary based on the institution’s size. To boost revenue, HEIs are advised to expand their undergraduate programs to attract more students.
The draft also introduces the concept of faculty ranking, primarily centered on research-focused Academic Performance Indicators (API) scores. This ranking system aims to incentivize faculty members by offering additional benefits. The guidelines suggest that implementing this ranking system through university policy can lead to increased motivation among faculty. As a result, faculty members will strive for excellence to improve their annual rankings, potentially reducing the need for excessive oversight.