What does $1 billion buy? Is Vedanta University’s proposed budget enough?

September 6th, 2007

Following up on our earlier rejoinder of an article that said $1-$3 billion is not enough for making a research university in India, following are some excerpts from an Indian Express article which talks about how much $1 billion buys in terms of Indian HRD.

How much is this Rs 4443.60 crore in the context of current spending on education? Consider these:

44 times the annual allocation for an IIT at the rate of Rs 100 crore average.

68% of the total allocation in 2007-08 for higher and technical education, which is Rs 6,483 crore, inclusive of allocation for expansion to accommodate OBC quotas

Almost twice this year’s allocation for the entire UGC (Rs 2124.77 crore) which includes all Central universities and its quota expansion

137% of the current year allocation for technical education: Rs.3240 crore of which Rs.2122 crore is IITs, NITs, IIMs expansion.

50% of the entire Tenth Plan allocation for higher and technical education, Rs 8876 crore

Cost of 2 new IITs

Upgrading 15 premium IITs

Setting of 15 Central universities

Entry Filed under: Colleges,Vedanta University, Puri,What does $1 Billion buy? What is once in a century Opportunity?


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