n a significant development to relieve the industry of the heavy load of debt written off as fee reimbursements, on Monday deputy chief minister and finance minister Bhatti Vikramarka announced that the govt would inject an servable initial Rs 600 crore to roll out the household of opposition loan. Subsequently, after this assurance, the extensive strike by the management of the private colleges was cancelled following a fruitful dialogue between the stakeholders and the state govt.
Addressing a press conference Vikramarka acknowledged that colleges were putting a financial burden in the hands of the govt and still assured that the govt would not neglect education. We are committed to clearing the backlog despite the financial limitations the state is facing. We know the value of schools to middle and poor families who rely on these programs. Our govt has vowed totally to see to it that the education of students is not interrupted in any way, he added.
According to what the minister said, the Rs 600 crore was to be fairly shared among all colleges where tokens already had been created. This is in order to prevent few colleges to share huge portion of the due reimbursement of fees. The minister said that future payments would go through without the issuance of dues.
Another report by the minister was the establishment of a committee consisting of college representatives and govt officials to make the process of reimbursement of the fees rationalised and streamlined such that it becomes systematic and transparent.
The decision was embraced by college managements who thought that the govt is very responsive and willing to have an amicable dialogue. They also vowed to work with the administration to address the issues encountered by the education institutions.
Reports suggested a growing upgradation of management under the plunge of major universities over the weekend seminars had requested the release of approximately 500 crore additional to offer college tuition of about 300 crore by professional and 200 crore by degree greater establishments to relieve strain on inadequate methods of functioning.
Vikramarka also added that there were heavy loads of pending bills left behind by the former government but that they were determined to accord education the first priority and to carry out the same.
The agreement is a major positive move towards stabilization of the financial position of the private colleges in the state and is also an assurance of continuation of academic progress of the students.
