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.
The survey stressed that the number of higher education institutions could be increased through the entry of private players and ensure that their degrees are internationally accepted.
In addition, the government's funds for higher education should be used for promoting scientific and technical education apart from encouraging R&D in all subjects.
"There is an urgent need for replacement of bureaucratic controls in education by professional regulators along with private-public partnership to ensure universal primary education," it added.
