New Delhi: With financial crunch playing a major stumbling block in the efforts of the Centre to bring about reforms in higher education sector, the Union Human Resources Ministry has pinned hopes on profit yielding Public Sector Undertakings (PSU).

It is no longer a hidden fact that owing to the financial crisis, India lags far behind USA and China in research projects.

Keeping these factors in mind, HRD Minister Kapil Sibal has sought the help from Union Minister for Company Affairs Veerappa Moily. Sibal wants financial assistance from profit making PSUs that are contributing to Corporate Social Responsibility (CSR).

Sibal said about five dozen companies including ONGC, SAIL, GAIL, BHEL and NTPC are contributing huge amount to the fund of CSR. According to the Union Minister, these PSUs can be instrumental in boosting the research in education.

There are three hundred PSUs under the various Ministries, out of which profit making PSUs are providing 2 percent of its net profit to the CSR.

Sources said that the Higher Education Secretary has written to the concerned Ministries in this context. If the PSUs give positive response in this regard, the entire fund can be used on the research work.
It is worth mentioning that several agendas for reforming higher education are yet to be passed in the Parliament. The Centre had failed to get several such legislations approved during the monsoon session of the Parliament.

As per the data, USA conducts 35 percent research yearly while it is 2.5-3 percent in India. In addition, the research projects in pioneer institutes of the country including IITs are not up to the mark.