15 Central Universities, 6 new IITs established

An Ordinance was promulgated for establishing 15 central universities and in addition to this, 6 new Indian Institutes of Technology (IITs) in Bihar, Andhra Pradesh, Rajasthan, Orissa, Punjab and Gujarat have started functioning in 2008-09 while two more IITs in Madhya Pradesh and Himachal Pradesh are expected to commence their academic session in 2009-10. This was stated by the Finance Minister, Shri Pranab Mukherjee, while presenting the Interim Budget 2009-2010 in the Lok Sabha today.

He further stated that two new schools of Planning and Architecture at Vijayawada in Andhra Pradesh and Bhopal in Madhya Pradesh have started functioning. The teaching is expected to commence from academic year 2009-10 in four, out of six new Indian Institute of Management proposed for the Eleventh Plan in Haryana, Rajasthan, Jharkhand and Tamil Nadu.

Due to a revision in Educational Loan Scheme by the Government, the number of beneficiaries has increased from 3.19 lakh to 14.09 lakh and the amount of loan outstanding has increased from Rs. 4,500 crore as on March 31, 2004 to Rs. 24,260 crore as on September 30, 2008.

Source : Equity Bulls

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