The Karnataka cabinet has take the decision to allocate Rs 2,500 crore for enhancing government higher education institutions, planning to borrow Rs 1,750 crore for this purpose. The government has resolved to establish a plan to bolster government higher education institutions with external funding of Rs 2,500 crore, Karnataka Law and Parliamentary Affairs Minister H K Patil informed reporters following the cabinet meeting.

He mentioned that Rs 1,750 crore will be obtained from the World Bank, while Rs 750 crore will come from the state government's contribution.

A total of Rs 2,500 crore is set to be utilized over four years, commencing in July 2025, and an initial project report will be presented to the World Bank via the Department of Economic Affairs, Government of India, for the approval of external financing.

"The primary objective of the department is to provide quality education and the aim is to provide resources to private institutions in the state to improve the standard of higher education," the Minister told reporters.

The government decided to release the draft of the Karnataka Educational Institutions (Terms and Conditions for Recognition of Minority Educational Institutions) (College Education) (1st Amendment) Rules, 2024 (Annexure-3) in the Karnataka Gazette and seek objections and recommendations from those impacted by it.

If there are no objections or suggestions to the draft rules, or if no significant changes are made to the draft after reviewing any received objections or suggestions, the draft rules will be finalized without being resubmitted to the Cabinet, Patil stated.