The Government has approved the setting up of 20 new Indian Institutes of Information Technology (IIITs) with a Public Private Partnership (PPP) model with an outlay of Rs 2808.71 crore.
The capital cost of each IIIT will be Rs 128.00 crore to be contributed in the ratio of 50: 35: 15 by the Central Govt, the State Govt, and the industry respectively (57.5 : 35: 7.5 in case of North-Eastern region). In addition, Rs 50.00 crore will be provided by the Central Government for faculty development programme for the faculty of new IIITs as well as existing IIlTs and IISERs. During the first four years of setting up each IIIT, the Central Government will provide partial support towards the recurring expenditure upto Rs 10 crore to each IIIT depending upon actual requirement of IIIT.
According to a release the Union Cabinet has approved the same on 07 December 2010, however no improvement have been reported since then. As per latest news, the Government has given approval once again.
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