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ICFAI hails move for pvt varsities
January, 09th 2007

Welcoming the Government's decision to allow establishment of private universities in the State, ICFAI (Institute of Chartered Financial Analysts of India) has called for a proper mechanism that ensures meaningful regulation on both academic and administrative issues.

The State has announced that it would introduce a Bill in the ensuing Budget session, facilitating establishment of universities in the private sector.

`Huge potential'

Addressing a press conference here on Sunday, Prof. V Panduranga Rao, Vice-Chancellor of ICFAI University, felt that there was a huge potential in the segment of higher education. While stating that this was possible with participation from private players, the Vice-Chancellor said that public and private sector universities could co-exist.

Referring to the examples of developed nations, he said there were 2,466 universities in the US with just one-fourth of India's population. While the number for China was 2,000, India was home to 350 universities.

The Vice-Chancellor felt that the entry of private universities would make reservations redundant, as there would be enough seats available for all.

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