IDEA for govt to raise funds. Instead of forcibly raising fees, they should do like the LPG cylinders. Ask all their IIT chamatkaris to voluntarily write a cheque to the govt for the worth of the subsidies to their education. Others will also feel shamed into doing same.
Whoever is now earning a lot of money will be easily able to pay back all the subsidy they used when they didn't have the money. Their patriotism and endorsement of no freeloading will be proved, and current students spared.
@vidyut why do you want the govt to be the middleman in this?