The Ministry of Education on Thursday informed that it is committed to empower the higher educational institutions in the country to achieve global standards.

In this context, the World Class Institutions Scheme was launched in the year 2017 to enable ten institutions each from the public and private category to have world-class academic and research facilities and grant them the status of Institution of Eminence (IoE), informed the official release by the ministry yesterday.

So far, twelve institutions (eight public and four private) have been approved under the scheme.

A significant amount of autonomy in academic, administrative and financial matters has been provided under the regulatory framework to these institutions so that they can emerge as global educational institutions.

The Government is providing financial assistance of upto ₹1000 crore each (over a period of five years) to public Institutions of Eminence. The scheme envisions the selected institutions to feature in the top 500 of the global educational institutions in a period of ten years after selection as IoEand improves to get into the list of top 100 global institutions eventually in any of the world-renowned ranking frameworks.

This information was given by the Union Minister of Education, Dharmendra Pradhan in a written reply in the Rajya Sabha on Thursday.