Government withdrawal can only be a gradual affair and for it to happen the IITs and IIMs must propose credible mechanisms of accountability and governance. The key issue that is unanswered by those who want the govt out of IITs and IIMs is: who holds management accountable? The answer that I seem to hear is: just leave it to faculty. In governance terms, this is most unsatisfactory. There must be somebody who delivers performance and somebody else who monitors. A governance vacuum created by government's precipitate withdrawal is the worst of all outcomes.
That's from this post by T.T. Ram Mohan, following up on an earlier post. While there, don't forget to read Juno_NYC's comment!
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