Education gets budget stimulus, IIT and NITs get Rs 2113 crore allocation

The provisions for the Scheme 'Mission in Education through ICT' has been substantially increased to Rs. 900 crore. Similarly, for establishment and up-gradation for Polytechnics under the Skill Development Mission has been increased to Rs. 495 crore. This was announced by the Finance Minister, Shri Pranab Mukherjee, while presenting the Union Budget proposals for the year 2009-10 in Lok Sabha today. Shri Mukherjee further proposed the enhancement of overall Plan Budget for higher education by Rs. 2000 crore over Interim Budget Estimates. He further announced the allocation of Rs. 2,113 crore for IITs and NITs, which includes a provision of Rs. 450 crore for new IITs and NITs.

The Finance Minister also proposed to allocate Rs. 827 crore for opening one Central University in each uncovered State.

Emphasizing the need for improving the facilities at Punjab University, Chandigarh, the Finance Minister proposed an allocation of Rs. 50 crore for the purpose. To enable the Union Territory of Chandigarh Administration to provide better infrastructure to the people, the Finance Minister also proposed to enhance Plan allocation for the city during the current Financial year.

Source : Equity Bulls

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