RISE Scheme – Infrastructure Development in Government Higher Educational Institutions

RISE Scheme – The Central Government of India is considering to launch the RISE Scheme for Infrastructure development in the education sector. Under this scheme, the Central Government will provide low-cost funds to all government higher educational institutions for the promotion of the higher education in schools. This RISE Scheme will cover all centrally-funded institutes (CFIs). Besides this, the central government has announced the launching of this scheme in the Union Budget 2018-19. Under this scheme, a total investment of 1 lakh crore in the upcoming 4 years.

RISE Scheme

The full form of RISE Scheme is Revitalising of Infrastructure and Systems in Education. The Central Government will revitalize infrastructure, open new schools for Scheduled Tribe (ST) candidates under this scheme. Besides this, the Central Government will also promote programmes for teachers. The main motive of the state government behind the launching this scheme is to improve quality of education for students.

Restructured Higher Education Financing Agency (HEFA) which is a non-banking financial company is given the responsibility to implement this RISE Scheme.

Loan Distribution Under RISE Scheme

HEFA will allocate and distribute the loans to CFIs under new funding model scheme for all centrally-run institutes as per the following criteria:-

List of InstitutesHEFA Loan on Offer from FY 2018-2022
IITsRs. 25,000 crore
Central UniversitiesRs. 20,000 crore
NITsRs. 11,300 crore
Institute of EminenceRs. 10,000 crore
IISERsRs. 5,000 crore
IIMs (6 newly opened)Rs. 4,500 crore
IITs (set up in PPP Mode)Rs. 3,000 crore
IITs (govt.)Rs. 2,000 crore
Language InstitutesRs. 1,000 crore
Other Centrally Funded InstitutionsRs. 1700 crore
Schools of Planning and ArchitectureRs. 1500 crore
New Institutes (Unforeseen)Rs. 6000 crore
Research PromotionRs. 9000 crore
TotalRs. 1,00,000 crore
Equity Share Under RISE Scheme

Funds to raise Rs. Under the RISE, the structure of Rs. 1 lakh crore, HEFA will require an equity of Rs. 10,000 crores, out of which Rs. 8,500 crores will be provided to the government and the rest of Canara Bank, which has a partnership with the government to establish HEFA and other corporations.

NaMo Yojana Kendra (NYK) – NaMo Help Centers
Objectives of RISE Scheme

All the infrastructure and research projects approved by the HEFA will be completed by December 2022.

Fund Rising Under RISE Scheme

By issuing the HEFA Agency and Educational Institute, the seller or contractors will issue direct money on the certification. Loans taken from HEFA under the RISE program will be paid over 10 years. There will be different ways of repaying the loan for different institutions based on their internal revenues.

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