The central government Friday approved changes in the Nalanda University (Amendment) Bill 2013 to further streamline the governance structure of the proposed university in Bihar.
This followed suggestions of a parliamentary panel which suggested several amendments such as making the governing board a seven-member body instead of five.
A government statement said the bill will streamline the governance structure of the university and provide it the financial support required to establish a world class institution of high learning.
The bill was introduced in the Rajya Sabha in August 2013.
The president will be the visitor of the university.
The government has approved an expenditure of Rs.2,727 crore for 2010-11 to 2021-22 to meet the university's budgetary requirements.
A number of countries such as China, Thailand, Laos, Singapore, Australia and Japan have either made or offered voluntary contributions to the university.
