NEW DELHI: The Union cabinet on Wednesday approved the proposal to expand the capital base of Higher Education Financing Agency (HEFA) to Rs 10,000 crore and tasking it to mobilise Rs 1,00,000 crore for revitalising infrastructure and methods in education by way of 2022. In 2016-17, the capital base of HEFA was Rs 1,000 crore.
The Cabinet approved HEFA to mobilise Rs 1,00,000 crore until 2022 to satisfy the infrastructure wishes of those establishments. The CCEA has additionally approved expanding the authorized share capital of HEFA to Rs 10,000 crore, and approved infusing additional Government equity of Rs five,000 crore in HEFA.
So a long way, HEFA has approved funding proposals value Rs 2,016 crore. On Wednesday, the cupboard committee on financial affairs approved to expand this facility to all establishments central universities that have little interior resources, and health education infrastructure like AIIMSes and Kendriya Vidyalayas.
CCEA approved norms for financing beneath HEFA and the modalities of repaying the primary quantity like technical establishments, began between 2008 and 2014, to repay 25% of the primary from interior resources and receive grant for the steadiness of the primary portion; central universities began previous to 2014 to repay 10% of the primary from interior resources and receive grant for the steadiness quantity; and for newly established establishments (began after 2014), grants could be provided for complete servicing of mortgage together with the primary and passion.
For different instructional establishments and grant-in-aid establishments of health ministry and all the newly set up AIIMSes and different health establishments and Kendriya Vidyalayas / Navodaya Vidyalayas, the ministry involved will give a dedication for servicing of the primary and passion by way of making sure ok grants.
The Cabinet approved HEFA to mobilise Rs 1,00,000 crore until 2022 to satisfy the infrastructure wishes of those establishments. The CCEA has additionally approved expanding the authorized share capital of HEFA to Rs 10,000 crore, and approved infusing additional Government equity of Rs five,000 crore in HEFA.
So a long way, HEFA has approved funding proposals value Rs 2,016 crore. On Wednesday, the cupboard committee on financial affairs approved to expand this facility to all establishments central universities that have little interior resources, and health education infrastructure like AIIMSes and Kendriya Vidyalayas.
CCEA approved norms for financing beneath HEFA and the modalities of repaying the primary quantity like technical establishments, began between 2008 and 2014, to repay 25% of the primary from interior resources and receive grant for the steadiness of the primary portion; central universities began previous to 2014 to repay 10% of the primary from interior resources and receive grant for the steadiness quantity; and for newly established establishments (began after 2014), grants could be provided for complete servicing of mortgage together with the primary and passion.
For different instructional establishments and grant-in-aid establishments of health ministry and all the newly set up AIIMSes and different health establishments and Kendriya Vidyalayas / Navodaya Vidyalayas, the ministry involved will give a dedication for servicing of the primary and passion by way of making sure ok grants.
Higher education to get 1 lakh core boost by 2022
![Higher education to get 1 lakh core boost by 2022]()
Reviewed by Kailash
on
July 05, 2018
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