Establishment of national level higher education institutions such as Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs) or Central University in Seemandhra will be a tough task.
Reportedly, the budgetary allocations being made to the Union Ministry of Human Resource Development (MHRD) every year as part of the ongoing XII Five-Year-Plan (2012-17) will not be sufficient for the purpose.
The current allocations are not adequate to meet the budgetary needs of existing institutions, which are exploring various options such as increase in fees, and cut in scholarships, said a MHRD official.
Officials estimate that nearly Rs 8,500 crore would be required to set up these institutes in Seemandhra, and the XII Plan allocations will have to be increased manifold. More than funds, it’s the amount of time that would take to set up these institutions.
As per official estimates, it requires Rs 1,850 crore to set up an IIT, Rs 1,500 crore for NIT, Rs 900 crore for IIM, Rs 1,080 crore for IISER, Rs 3,000 crore for three Central universities and Rs 75 crore for an IIIT in Seemandhra. All this adds up to Rs 8,405 crore.
As against this, the Centre allotted Rs 16,120 crore for higher education in the 2013-14 budget. Out of the Rs 16,120 crore earmarked for higher education this year, Rs 2,220 crore will go to the existing IITs, Rs 331 crore for IIMs and Rs 5,147 crore to the University Grants Commission (UGC),
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