[skbt]

20. All education institutions will be held to similar standards of audit and disclosure as a ‘not for profit’ entity. Surpluses, if any, will be reinvested in the educational sector, according to the NEP 2020.

21. There will be transparent public disclosure of all these financial matters with recourse to grievance-handling mechanisms to the general public. The accreditation system developed by a National Accreditation Council will provide a complementary check on this system, and a National Higher Education Regulatory Council (NHERC) will consider this as one of the key dimensions of its regulatory objective.

22. All fees and charges set by private HEIs will be transparently and fully disclosed, and there shall be no arbitrary increases in these fees during the period of enrolment of any student. This fee determining mechanism will ensure reasonable recovery of cost while ensuring that HEIs discharge their social obligations.

23. Through a suitable system of graded accreditation and graded autonomy, and in a phased manner over a period of 15 years, all HEIs in India will aim to become independent self-governing institutions pursuing innovation and excellence. Upon receiving the appropriate graded accreditations that deem the institution ready for such a move, a Board of Governors (BoG) shall be established. Equity considerations will also be taken care of while selecting the members, according to the policy. The BoG of an institution will be empowered to govern the institution free of any external interference. It is envisaged that all HEIs will be incentivized, supported, and mentored during this process, and shall aim to become autonomous and have such an empowered BoG by 2035.