Why asking IITs and IIMs to mint money is government’s worst idea ever

Why asking IITs and IIMs to mint money is government’s worst idea ever

The finance ministry has written to all government departments and ministries, directing them to ensure various autonomous and funded institutes and bodies under them are levying adequate “user charges” for services they are providing. Prominent among such institutes are the IITs, IIMs, different public universities and research institutes. Directing these institutes to mint money is in tune with the recent reluctance of the government to fund these institutes, as the government is focused on limiting expenditure and sticking to its fiscal targets. While reducing investments in higher education and forcing…

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