HRD Minister Prakash Javadekar on Monday said that 205 teachers’ posts in the higher educational institutions are still vacant.
“Vacancies in higher education institutions is a serious problem. Around 20% posts in central universities are currently vacant,” the minister said during Question Hour.
He reiterated that teachers can be re-employed on contract appointment beyond the age of 65 years and upto 70 years, subject to availability of vacant positions and fitness.
In February, Canara Bank signed a memorandum with HRD Ministry in order to operationalise the Higher Education Financing Agency (HEFA).
Prime Minister Narendra Modi approved the creation of the HEFA to give a major push of high quality infrastructure in premier educational institutions.
HEFA would be jointly promoted by the identified Promoter and the HRD Ministry with an authorized capital of Rs 2,000 crore. The Government equity would be Rs 2,000 crore. The Government would be Rs 1,000 crore.
HEFA would be formed as a SPV within PSU Bank/Government-owned-NBFC (Promoter). It would leverage the equity to raise up to Rs 20, 000 crore for funding projects for infrastructure and development of world class Labs in IITs/IIMs, NITs and other such institutions.
About Higher Education Financing Agency (HEFA)
HEFA would finance the civil and lab infrastructure projects through a 10-year loan. The principal portion of the loan will be repaid through the ‘internal accruals’ (earned through the fee receipts, research earnings etc) of the institutions. The Government would service the interest portion through the regular Plan assistance.
