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?