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Rediff News  All News  » Business » Cabinet nod to foreign varsity Bill

Cabinet nod to foreign varsity Bill

March 02, 2007 12:20 IST
The Cabinet on Thursday approved the Foreign Educational Institutions (Regulation of Entry and Operations, Maintenance of Quality and Prevention of Commercialisation) Bill, 2007.

The move is likely to allow 100 per cent foreign direct investment in higher education.

"The Bill will protect the interest of the student community from sub-standard foreign educational institutions and 'fly by night' operators," Priya Ranjan Dasmunsi, Minister for Information and Broadcasting, said. The Bill will now go to Parliament.

The Cabinet also gave its nod for raising the authorised share capital of the Indian Renewable Energy Development Agency Ltd from Rs 400 crore (Rs 4 billion) to Rs 1,000 crore (Rs 10 billion).

The Communal Violence (Prevention, Control and Rehabilitation of Victims) Bill, 2005, was also approved. The Bill envisages speedy investigation and dispensation of justice, prevention of communal violence and offences. The Cabinet also gave approval for a Bill to amend the Motor Vehicles Act, 1998.

BS Reporter in New Delhi