New Delhi: The union cabinet Thursday approved a pact between the ministry of external affairs and Nalanda University to allow it to source talent from across the world, Finance Minister P. Chidambaram said Friday.
According to the finance minister, who was briefing reporters on the cabinet decisions, the agreement would confer on the university - to come up in Bihar - and and its faculty privileges and immunities considered necessary to provide an overall framework for the efficient functioning and operation of the university.
The move will also facilitate hiring of the best academics from across the world, as recruitment of faculty cannot take place without fixing their terms and conditions, for which the conclusion of the agreement is essential, he said.
The minister said that the university would serve as an international centre of excellence in higher learning and integrate modern, scientific and technological knowledge and skills with basic human values to promote universal friendship, peace and prosperity through the spiritual awakening of the individual and society.
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