About the scheme: 

• The Institute of Eminence Scheme (IOE Scheme) was announced in 2016 to improve the ranking of Indian higher educational institutions at the global level.
• Under this scheme, the Ministry of Human Resource Development (HRD) will select 20 IoEs — 10 public and 10 private and establish them as world class institutes in the country.
• These twenty institutions will be provided with greater autonomy, grants and special preferences.

Criteria For Selection Of Institutions:  

• Institutions which are under top fifty in National Institutional Ranking Framework are eligible for applying for IOE status, Or  Top 500 in internationally recognised rankings like the Times Higher Education World University Rankings.

Features of IOE status:  

• The 10 public institutions which will be selected, will get Rs 1,000 crore each from the HRD Ministry to achieve world-class status.
• The government will offer no financial assistance to the private institutions.  For both private and public institutions, administrative autonomy will be given. Curriculum, course structure, fee structure, salary structure can be designed by themselves.
• Up to 25% of faculties can be hired from abroad, about 30% of students from abroad can be given admissions, almost 20% of the courses can be given online.
• There will be no restrictions from UGC in terms and services conditions as the scheme aims to promote administrative autonomy for the better innovation ecosystem.
• Apart from public and private, IOE status can be also given to greenfield institutions (Institution which is yet to start) for encouraging new players.

Why in News?

Union HRD Minister chairs Meeting to review the progress of works sanctioned under Institute of Eminence Scheme.

Reference:

https://pib.gov.in/PressReleseDetailm.aspx?PRID=1629676