Red-tape puts paid to new B.Com courses

MUMBAI: University of Mumbai''s efforts to introduce two new job-oriented Bachelor of Commerce courses have been stifled by red-tape. The degree courses, which were approved by the government only in July, have few takers now.
The courses -- B.Com in accounts and finance and B.Com in banking and insurance, have received a poor response from students as they were introduced in July.
"By this time students had already taken admission to other courses," a commerce college principal said.
Also, since the colleges receive no government aids for the new courses, the fees are much higher (between Rs 14,000 to Rs 16,000) than a regular B.com, which costs Rs 2,500 per year.
Now, colleges which had signed up for introducing the new courses are faced with a severe shortage of students. Lala Lajpatrai College, Mahalaxmi, which has 120 seats for both the courses, has barely managed to admit 25 students. Similarly, SIES college has filled up only 40 seats. Since these are un-aided courses colleges need to fill up at least 50 per cent of the seats to break even.
"We have received such few applications that I have written to the varsity asking for permission to start the courses only from next year," said S T Gadade, principal of C K Thakur College, New Panvel. Gadade who heads the Board for the Study of Accounts said the new courses pay more emphasis on core subjects such as taxation, law and accounts.
"These specialised courses have tremendous scope with job vacancies in the banking sector and more private companies getting into insurance business," Lala Lajpatrai College principal M G Shirhatti said. The course lays equal stress on theory and practical knowledge.
The varsity introduced the courses this year keeping in mind the University Grants Commission directives to make education more suited to job market demands. The courses were approved by the university academic council in April and forwarded to the state education department, which gave its nod only in July. By this time students had already taken admission to other courses.
Also, since these courses follow a semester system instead of having an annual exam, principals are worried about wrapping up the syllabus before the first term ends in October. H R College of Commerce, Churchgate, which flagged off the courses on Thursday plans to hold extra classes in order to complete the syllabus in time.