New Delhi, June 27: In a major development, the Ministry of Human Resource Development (HRD) is preparing a draft bill to set up a higher education commission in place of University Grants Commission (UGC). According to media reports, the ministry has promised to put out the details soon and has welcomed public suggestions by July 7 for the draft bill. The new institution is touted to give more autonomy to higher education institutes in India.

The draft bill aims to reduce the interference of various regulatory bodies in the functioning of higher education institutions and create a single body. This comes close on the heels of speculation over allowing foreign investment in higher education sector.  The grant will be given to institutions depending upon their performance.

Currently, there are various regulators like University Grants Commission (UGC), All India Council for Technical Education (AICTE) and the National Council for Technical Education (NCTE). They all are functioning under the ministry. The new regulator will replace them to create a single regulatory authority. This reform was announced in this year’s budget by Finance Minister Arun Jaitley and is seen as the biggest reform of the NDA government.