Over the years, the government has gradually withdrawn from direct management of public institutions, devolving governance to boards compromising academics, alumni and external members. Instead, it exerts indirect forms of control based largely on mechanisms such as performance-linked funding and quality recognition. The erstwhile regulatory regime of multiple bodies with conflicting and overlapping mandates has given way to a single independent regulator that is largely hands-off, with the regulatory focus shifting from ‘high barriers to entry’ to ‘high standards for accreditation’. Self-regulation and self-critique has now become the norm. The government’s role as a provider of funding has also seen some shifts. Over the 13th and 14th plan periods, the funding model has moved from funding for institutions to funding for individuals (including faculty, students and researchers). As a result, institutions can no longer rely solely on government monies for operations and expansion, but are increasingly taking greater responsibility for sourcing funding, further increasing their autonomy to plan their own futures.