AICTE is regulatory body that is part of MHRD. Even though it stands for All India Council for Technical Education, like a tentacled monster most government regulators are; its tentacles are around totally unrelated matters such as MBA programs.
MHRD and AICTE are the reason why engineering education in the country has become worthless. Indian students are leaving the country for MS programs in USA/UK and AU by taking loans from Indian banks at 11% interest rate.
MHRD’s education policy is devoid of sense and logic and most certainly goes totally against fundamental economic reasoning. While the Congress probably looked at education as parking lots for their intellectual henchmen BJP seems to think of it as a tool to propagate half-ass ideas about culture/nationalism etc.
The latest item to come out of this circus is government proposal to cap the fees to engineering and MBA programs.
For instance, the committee has fixed the maximum (tuition and development) fee for a two-year MBA course at Rs 1.57 lakh to Rs 1.71 lakh per annum, depending on the location of the institute. The annual fee for a four-year engineering degree (BE or B Tech) has been fixed at Rs 1.44 lakh to 1.58 lakh. It has also proposed the maximum fee for technical courses like B Arch, B Pharma, MCA and M Tech – See more at: http://indianexpress.com/article/india/india-news-india/aicte-accepts-panel-proposal-on-fee-cap-for-private-institutes/#sthash.99rDDaVQ.dpuf
The apex court had ruled that to prevent commercialisation of technical education, the fee charged by private institutes should be decided by the state governments until a national-level fee fixation committee gives its recommendations.