The Union cabinet today approved the Revised Cost Estimates for the eight new IITs established at Bhubaneswar, Hyderabad, Gandhinagar, Jodhpur, Indore, Mandi, Ropar and Patna from Rs. 6080 crore to Rs. 13,990 crore for over a period of 11 years that is 2008-09 to 2018-19. The Union cabinet meeting was presided over by PM Narendra Modi. It is an increase of Rs. 7910 crore.
Beneficiaries of IITs -
The strength of the students in each IIT will be increased at the end of the project to the tune of 2360. That means by the end of the 11th year that is 2019 the total students capacity would be 12880.
Though in terms of number 12880 students will be the direct beneficiaries but it is expected that these eight new IITs would indirectly to bring about quantitative and quality growth in several areas -like research, registered patents / designs/ trademarks ,publication of books and research papers and quality improvement programmes.
It is also expected that these institutes also fulfil the emerging need of the industry and the whole economy. The talent pool of qualified and train personnel coming from these institutes would provide skilled technical manpower to the industries of various sectors.
While these institutes will provide research and development atmosphere with good infrastructure and contribute new innovation and produce excellent faculty for leading technical institutes in the country.
Brand Name -IITs-
Over the years the IITs have created a brand of its name globally and are the institutions of national importance. The products of IITs have been highly rated. They have brought the reputation of the country.
Its alumni are contributing to the nation-building process in terms of wealth creation, employment generation, and the development of new technology. Besides that, all the IITs through research & development, entrepreneurial spirit and technology innovations immensely contributed to the economic development of the country.
Genesis of these New IITs-
It was in July 2008, the cabinet had approved the establishment of eight new IITs at several states keeping in mind the development factor of these the states. As per the DPR and Cabinet approval, each IIT was to be established with a total cost of Rs. 760 crores, which in total amounted to Rs. 6080 crores for all eight new IITs.