Seeking regulatory reforms in higher education, the Economic Survey has suggested that quality foreign players should be allowed in the sector.

The report has said that there should be reforms in the regulatory framework and regulatory institutions for higher education.

Such a move would help in focussing on "providing honest and transparent quality rating and information on financial costs", it said.

The survey called for allowing "regulated entry of high quality foreign and rated domestic institutions to provide higher education".

Moreover, the report has pointed out that rating the quality of educational institutions and all education service providers could be helpful for the whole sector.

Regarding prestigious institutions like the IITs and the IIMs, the survey said there is a need to streamline the admission procedure for such entities.

The streamlining of the admission procedure should also ensure that the quality of student intake does not suffer.

"Intake should be based on entrance examination which tests the aptitude to grasp knowledge and not the knowledge itself," the report noted.