The Finance Minister today said that two more Indian Institutes of Management will be set up in Jammu & Kashmir and Andhra Pradesh. This will take the total number of IIMs in the country to 20 (taking into account the new proposed IIMs).
Further, in this budget speech, Arun Jaitley said that Indian School of Mines in Dhanbad will be converted into an Indian Institute of Technology (IIT), apart from setting up a a new IIT at Karnataka.
Also, a fully IT-based student financial aid authority will be set up. Under this Pradhan Mantri Vidhyalaksmi Karyakram, it will ensured that no student should be deprived of higher education due to lack of funds. This body will fully monitor all scholarships and aids awarded to students for higher education.
All India Institute of Medical Sciences (AIIMS) will be set up in Jammu & Kashmir, Punjab, Tamil Nadu, Himachal Pradesh and Assam. There will also be an AIIMS-like institution in Bihar. The budget allocation for education stood at Rs 68,968 crore.
Further, in that budget, it had announced the setting up of 5 new IITs in Jammu and Kashmir, Chhattisgarh, Goa,Andhra Pradesh and Kerala. With this year’s budget proposal, the number of IITs (including proposed) would go up to 23.