Higher Education Financing Agency (HEFA)
The govt. has decided to set up a Higher Education Financing Agency (HEFA). Its a not-for-profit organisation that will leverage funds from the market and supplement them with donations and CSR funds. These funds will be used to finance improvement in infrastructure in top institutions.
• HEFA could be set up as a company
• While HEFA will start with an initial fund of Rs 1,000 crore, an equal amount will be raised from five corporate donors, each contributing at least Rs 200 crore.