Prof. J.D. Agarwal, Chairman, Indian Institute of Finance welcomed the decision of the Ministry of Human Resource Development, Government of India to do away with the bureaucratic control over the donations to be received by the Institutions of higher learning from Alumnus and other donors. This is a very right decision reiterates Dr. Agarwal.

These contributions made to the Institutions in form of such donations ever since these were expected to be directed through the government, is terribly awful.

Old students have high respect for their Institutions and their teachers where they have studied. They feel obliged and wish to pay back to the Institutions for careers they have built after studying in such Institutions. After passing out they become rich, generate wealth, they wish to repay back those Institutions through donations. For the wealthy people, such donations made to their alma maters is peanuts but for the Institutions, donations help them facilitate the upgradation of academic infrastructure and also grant honour to its alumni. The donors and alumni also feel assured that funds will be used by the Institutions in best possible manner where they have studied feels Prof. Agarwal.

We are proud of Higher education in India with a spread of over 300 Universities, 13000 colleges and more than 1500 technical institutes for being the largest exporter of technical manpower in the world says Prof. Agarwal. Our manpower, serving worldover, has excelled and valued highly. But unfortunately our institutions of higher learning – temples of education – are starving for funds and require urgent attention and educational reforms so as to continue to serve the society and make India strong states Dr. Agarwal.

Dr. Agarwal feels that this decision would go a long way for getting donations from the old students by the Institutions both from India and abroad.