main-building-at-nightFinance Ministry Drops Rs 8,700 Crore Funding to IITs

BW Business World (September 7, 2017)

The Vishwajeet project, proposed by the Ministry of Human Resource Development has been turned down by the Ministry of Finance.

According to the scheme, Rs 8,700 crore were to be allotted to the top seven Indian Institute of Technology (IIT) for improving infrastructure, hiring foreign faculty members, tie up with international institutions and adopting various other measures to improve QS and Times global rankings.

While each of the top seven premier technological institutes were supposed to use Rs 1,250 crore each over a period of five years, the rejection of this scheme comes as quite a setback to these institutions. (Read More)