Mumbai gets a self-financed private university
- 25 February, 2019
The Maharashtra cabinet approved the establishment of the Somaiya Vidyavihar University, making it the first private varsity to have absolute freedom to decide its own fee structure and curriculum. The cabinet’s approval means the institutes under the Somaiya group will no longer fall under the University of Mumbai.The Somaiya Vidyavihar University will be run jointly by Somaiya Vidyavihar, KJ Somaiya Trust and The Somaiya Trust. It will include the KJ Somaiya College of Engineering (KJSCE), KJ Somaiya Institute of Management Studies and Research, and five other institutes at the Vidyavihar campus in Ghatkopar.
Self-financed universities will receive no aid from the state government. They will have the freedom to decide their own fee structure, appoint their own vice-chancellor, academic council and other management bodies.
The government will introduce the bill in the upcoming legislative session to set-up the university and the autonomous university can start operations from 2019-20 academic year. Students already enrolled at these institutes will continue to remain a part of older system and the new entrants will receive degrees from the new private varsity.
For the first time the state has grant permission to an institute under self-financed system. The government will no longer provide grants to the institute unless management seeks their help.
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