I feel it is not a question about the government lacking the funds for it, but more about the challenge in allocating those funds to the right leaders. Reflecting on my time at IITM, I greatly appreciate the professors who inspired me. However, is it ethical to charge money  from some of our country's best young minds, when a better alternative exists? Won't the morale of young talents, take a dip, when even the director of IITM is caught peddling pseudoscience*. Of course, no body is perfect, but India is not where it needs to be, in comparison to technologically advanced countries like China. My point is - do not preach to young minds, and demand "gurudakshina".  Instead, build a system to employ them and offer project-based learning. 

The traineeship based "earn and learn" model is more ethical for India. This way, our government can fund for the development of new technologies, instead of funding tuition - something already available for free from world-leading experts on the internet and getting even more democratised with the power of AI. Not only engineering traineeships, but research traineeships may also be awarded, similar to PhD scholarships. Our meritorious students deserve it!

* https://www.youtube.com/watch?v=77U4MWtAr3Y