CII Conscious Capitalism Summit 2010
Thursday, March 11, 2010
CII Conscious Capitalism Summit 2010

New Delhi: Satellite mapping to curb encroachments and slum dwelling; Mr Sibal Govt to encourage private education institutes: Kapil Sibal, Union HRD Minister 82% children need colleges by 2020; Mr Sibal The Government of India is proposing several legislative amendments in the higher education to encourage private participation in educational arena, said the Hon’ble Minister for Human Resource Development, Govt of India. “There are three legislations we are planning to propose for improving higher education in the country including, one allowing domestic and foreign players to set up educational institutes, setting up National Accreditation Authority and for the Educational Finance Corporation,” Mr Sibal said at the Conscious Capitalism summit organized by Confederation of Indian Industry (CII) and Conscious Capitalism Institute (CCI).

Hon’ble minster said that the government would reduce its intervention in the education. “The National Accreditation Authority would do all the evaluation process of the institutes as per their declarations made on their websites pertaining to the infrastructure, faculty members etc for the quality education,” he said.

The Ministry of HRD has also sent a proposal to the Planning Commission for setting up the Educational Finance Corporation. “This will reduce the fee structures in private institutes as they would be provided with long term commercial borrowings. Similarly, students would also be extended with the facility to fund their education and would not have to depend on their parents,” Mr Sibal said.

He emphasized on the role of private players in the higher education sector and said, “Only about 12% students enrolled in schools enter in the colleges for higher education who fall in the age-group of 18 to 24 years. We want to increase the resources for them and States alone cannot do it.”

Mr Sibal also pointed out that the satellite mapping could be used to curb the menace of encroachments and slum dwelling in the cities.
“During my tenure as the Minister for Science and Technology, we developed a system through satellite imaging and mapped entire Chandni Chowk area of Delhi. All small and big constructions were mapped in the systems and any new cropped up construction or encroachment would be caught by the system which was not mapped even on previous evening.

We are planning to employ this technology in other areas of the city and gradually other cities which could resolve illegal constructions and encroachments,” Mr Sibal said.
Dr Shubhro Sen, Co-founder and Executive Director of the Conscious Capitalism Institute speaking on the institute said that it is here to make a positive difference in India in the way our corporations are run and conduct themselves in the society. “We want India’s current and future leaders to be world class and be on the right side of society. The institute also wishes to help India recognize that these ideas and practices that are so contemporary and successful are timeless and rooted deeply in ancient Indian values,” he said. Dr Sen stated that Conscious Capitalism can become one of India’s most important exports to the rest of the world. “We can lead the way with values driven capitalism in the 21st century,” he said.

At the CII’s summit, Dr J J Irani, Past President of CII and Director of Tata Sons said, “Corporate Social Responsibility is not an expense but investment. J R D Tata in his first 3-4 years of entrepreneurship focused completely on the development of community around its business set ups and hence could create Jamshedpur.”

Dr Raj Sisodia, Chairman of the Conscious Capitalism Institute and Professor at the Bantley University explaining the need of such an institute said, “In a survey on trustworthiness of the entrepreneurs in USA, only 2% respondents believed that the CEO’s are ‘Very Trustworthy’. This shows that earning community’s trust would be pivotal for sustainable growth of organizations.”

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