Thursday, September 21, 2006


Vedanta University Crosses Hurdle

Vedanta University Crosses Hurdle
Bhubaneswar:20/September/2006Now it seems that Vedanta Foundation, which has proposed to set up a world class university in Orissa has crossed the first hurdle. Government of Orissa in a major paradigm shift in higher education sector has decided to go for a new act to facilitate private sector in setting up universities. This was decided at a high level meeting chaired by Chief Minister Naveen Patnaik on September 20 here. Legal Pundits were objecting to the proposal fall flat at the Supreme Court's decision to allow private parties to set up centre for higher learning. Higher education sector in Orissa is facing acute financial crisis and the State Government is not in a position to invest in this area out of its own coffer. A Bill will be piloted in the November session of the Orissa Legislative Assembly in this regard,said official sources. Passage of the Bill will pave the way for Vedanta Foundation to set up its university in Orissa. Vedanta Resources will be investing Rs.10,000 crore for an university at par with Stanford University. According to sources at least 8000 acres have been identified in Puri-Konark marine area. Earlier the Institute of Chartered Financial Analysis of India (ICFAI)has also evinced interest to set up its university in Orissa. But ICFAI hit the road block due to legal warnglings over the private university issue. It has been decided to draft the Bill by Higher Education department, which will be vetted by Law department. According to sources only Societies and Trusts will be able to float universities in the state. Earlier to facilitate ICFAI, Government of Orissa tabled a Bill the Assembly in 2003, which collapsed. And now the Government has decided to effect certain changes in the Bill and table it in the next session during November.

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