The Universities for Research and Innovation Bill, 2012 seeks to allow the central government to set up Universities for Research and Innovation through notifications. These universities shall be deemed to be institutions of national importance. The salient features of this bill are as follows:
(i) Declaration of existing university as research and innovation university: The central government may declare any existing public funded university to be a university for research and innovation after an expert committee (formed by the central government) has assessed it.
(ii) Establishment of new universities: A new university may be established by a promoter if he meets certain conditions. If the promoter is an organisation, it has to be a non-profit company, a society or a trust with proven expertise in innovation. If it is an Indian university, it has to be established for at least 25 years. If it is a foreign university, it has to be established for at least 50 years.
(iii) Time limit for approval: The proposal for setting up the university has to be approved by the central government within six months as far as practicable.
(iv) Mechanism for performance review: Each university shall constitute a committee to review the performance of the university within 15 years of it being set up. Subsequent reviews shall be every 10 years.