Centre to Spend over Rs. 20,000 Crore for Setting Up New IITs
- IITs need more funds due to the multidisciplinary and research nature.
- MHRD is planning to push the Expenditure Finance Committee (EFC) to seek approval for the first phase.
The central government is expected to spend around Rs. 20,000 crore to construct six new Indian Institutes of Technology (IITs) in various locations. The centre announced the setting up of six new IITs in 2015. Out of the total estimated budget, the government may spend Rs. 7,000 crore in the first phase that ends in March 2020. The rest of the amount will be spent in the second phase that will end in March 2024.
An official revealed that the new IITs incur minimal expense during the initial years as they function from temporary campuses with limited staff, students, courses and research. The Ministry of Human Resource and Development is planning to push the Expenditure Finance Committee (EFC) to seek approval for the first phase. Once the first phase is done, the HRD Ministry will seek approval for the second phase.
Also Read: - Have a Look at Placements Report of IIT Delhi
The Union Cabinet gave clearance for the establishment of six new IITs in the following states: -
- Jammu & Kashmir
- Goa
- Chhattisgarh
- Karnataka
- Kerala
- Andhra Pradesh
An official associated with MHRD indicated that IITs need more funds due to the multidisciplinary and research nature. The officials are hoping for an approval from Expenditure Finance Committee soon.
During the 11th Five Year Plan (2012), the previous UPA government had planned to spend Rs. 6,000 crore for setting up eight new IITs. However, there was a delay in the process due to land procurement. Later, the inflation effect pushed the estimated budget to Rs. 14,000 crore. In 2014, NDA government approved the additional money.
Also Read: - Indian Navy and IIT Gandhinagar to Sign Pact
All the six states have procured the land and are ready to handover it for the construction of IITs. Now, the officials are waiting for the approval of EFC.
A professor from an older IIT pointed that there should not be any cost escalation problems which further delay the construction process. Therefore, he advised the officials to plan properly to regulate the delay in construction.