Rashtriya Uchchatra Shikska Abhiyan (National Higher Education Mission) or RUSA is a holistic centrally sponsored scheme for the development of higher education at the state level and enhancement of allocations for the State Universities & Colleges steered by the Ministry of Human Resource and Development. Built on the success story of Sarva Shiksha Abhiyan (Education for All Movement) and Rashtriya Madhyamik Shiksha Abhiyan (National Mission for Secondary Education) , RUSA will be spread over two plan periods, for improving access, equity and quality in the state higher education system. This paper provides an overview of the key components of this landmark scheme, its benefits to the Indian higher education system, as well as its attempts to address some of the key challenges plaguing higher education in India today.