As per the official figures, the centre had sanctioned a loan of INR 33,926.84 Crore to as many as 100 educational institutions across the country, out of which, an amount of INR 14,675.06 Crore has been made available for use.
Amount issued to HEIs under RISE scheme is less than sanctioned amount: Ministry
The Education Ministry data has revealed that the amount issued to educational institutions under the centre's Revitalising Infrastructure and Systems in Education (RISE) is less than the amount that was sanctioned. As per the official figures, the centre had sanctioned a loan of INR 33,926.84 Crore to as many as 100 educational institutions across the country, out of which, an amount of INR 14,675.06 Crore has been made available for use. The information was shared by the Union Education Ministry in the Lok Sabha.
As per the data released by the Ministry, the government has sanctioned significant amounts of money to institutions in states such as Andhra Pradesh, Uttar Pradesh, Maharashtra, Jammu and Kashmir, and New Delhi since 2018, but the amount released has been less than half.
The report further stated that, "other major states, including Karnataka, Madhya Pradesh, and West Bengal, saw funds released that were far below the sanctioned budgets. The Centre sanctioned INR 1,500 crore for infrastructure development in four educational institutions in Karnataka but only released INR 342 crore. In Madhya Pradesh, INR 1,170 crores were sanctioned for six institutions, but only INR 459 crores were released for use. It was INR 715 in West Bengal, compared to the sanctioned amount of INR 1,189 crore."
It must be noted that the schemewas launched by the suitably structuring of the Higher Education Financing Agency (HEFA). The scheme is applicable for eligible Centrally Funded Higher Education Institutions (CFHEIs). Projects sanctioned under HEFA include academic building, hostel, research lab and equipment, the ministry informed.
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