New IITs, IIMs - Finance Minister Mr Arun 100 Crore Jaitley allocated Rs 500 crore to set up five new IIMs and five new IITs in the Union Budget 2014-15. ****Lets look at the reality*** 1. Setting up a single IIT costs a good Rs 1500-1750 crore. 2. Setting up a new IIM could cost anywhere near Rs 1000-1100 crore. 3. This excludes the cost of land that state governments have to acquire and hand over to the central government for free. 4. There will be further cost escalation by the time projects get underway. So, the 500 crore allotted by Mr Jaitley wont be sufficient to setup even a single IIM or IIT ****What about the existing IITs?**** Maintaining the existing IITs will cost Rs 9,000 crore in the next five years. Consider this: across the existing IITs, 38 per cent faculty posts are vacant. As per the HRD Ministry’s submission to Parliament in February, against 6,591 existing faculty positions across the 15 IITs, only 4,079 faculty positions are filled. Of the new IITs that came up in 2009 in Patna, Mandi, Jodhpur, Bhubaneshwar, Ropar, Hyderabad, Indore and Gandhinagar, only IIT Mandi has its own campus while the rest are still using temporary campuses. Before it can set up any new Indian Institutes of Technology (IITs), the human resource development (HRD) ministry needs more funds to manage the escalating costs of engineering and management institutes that were set up in the last five years, At least Rs.25,000 crore is required for IITs and National Institutes of Technology (NITs) alone—nearly three times more than what was estimated during the 11th Five Year Plan (2007-12) Ref: 1. indianexpress/article/india/india-others/iit-iim-in-each-state-faculty-costs-challenges/ 2. timesofindia.indiatimes/india/Every-state-to-have-an-IIT-IIM/articleshow/36318925.cms 3. livemint/Politics/ZdpW8wHtDxZbdph0nq3TvO/Escalating-costs-may-force-govt-to-delay-setting-up-new-IITs.html =================================== Mr Arun Jaitley should understand that running a country is not as simple as running a social media campaign via photoshop for elections or giving an impressive speech.
Posted on: Fri, 11 Jul 2014 10:31:52 +0000
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