Published On:June 30 2016
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Cabinet approves ₹13,990-cr revised cost estimate for eight new IITs.
The setting up of eight new Indian Institutes of Technology (IIT) will now cost an estimated ₹13,990 crore as against ₹6,080 crore, after the Cabinet approved the revised cost estimates recently.
The initial cost estimate was over a period of 11 years from 2008-09 till 2018-19 and an official statement said that the increase in expenditure was due to the escalation in time and cost overruns. The new IITs will come up in Bhubaneswar, Gandhinagar, Hyderabad, Indore, Jodhpur, Mandi, Patna and Ropar. The student strength at each IIT at the end of the project will be 2,360, the statement added. Further, the total student capacity in the eight IITs will be 12,880 by March 2019.
“Indirectly, the eight new IITs would be expected to bring about quantitative and quality growth in areas of research, publication of books and research papers…These institutes would also meet the emerging needs of the industry and the economy as a whole,” the statement added.
Further, the Cabinet also gave an ex-post-facto approval for extension of Addendum IX from April 1, 2011 till March 31, 2016 and renewal of the Memorandum of Understanding between the Government of India and Shastri Indo-Canadian Institute (SICI) for five years by way of signing a supplementary Addendum X to the MoU first signed in 1968.
Under Addendum X, the Ministry of Human Resource Development has approved an expenditure of ₹33,176 crore for the period from April 1, 2016 till March 31, 2021 or the entire five-year period.
The Cabinet also approved the signing of an MoU between India and Tanzania for bilateral cooperation in water resources management and development. The signing of an MoU between the Union Public Service Commission and the Royal Civil Service Commission of Bhutan was also approved.