For IITs, go shake your moneymakers
Given IITs' role in building India's S&T muscle, a systematic approach to alumni contributions is necessary for expanding the fiscal space. Many IITs have done this successfully earlier.
In 2019, IIT Delhi set up an endowment fund. Other IITs followed.
In 2023, Infosys co-founder Nandan Nilekani donated ₹315 crore to IIT Bombay, his alma mater.
But IITs should focus on more than mega contributions from big-ticket alumni and also take a systemic approach to encourage smaller contributions. The endowment fund must be used to go beyond basic requirements, but kept aside for cutting-edge, experimental, socially responsible research.
However, a steady inflow via alum contributions must not lead to a reduction in state budgetary support. The latter is essential to ensure these institutions remain 'public' in the truest sense of the term, and deserving students get a chance to study in IITs.
