IITs had recently come up with an estimate, which says that if India wants to improve the global ranking then it will have to invest Rs. 22,000 crore in the next five years. The Project Vishwajeet was started by HRD Ministry so that the rankings of Indian institutions could be improved. This project was passed on August 24 by the council of IIT. With the help of this project, the government will focus on building institutions. The amount being fetched is aimed for old IITs so that they can improve their global rankings.
A meeting held between the Directors of all the IITs with the HRD Ministry where the Directors asked for around Rs. 21,780 crores from the HRD Ministry. With this amount, the IITs aim to improve their infrastructure, faculty, research facilities, including other key areas. The institutions are aiming to increase their presence in top 100 club of University rankings by 2018 and in top 50 by the year 2020. Currently, several IITs have lower student-teacher ratio, which may be considered as a reason for affecting its global ranking.
The amount to be spent by different IITs also differs. IIT Bombay is seeking Rs. 2,250, IIT Delhi – Rs. 2,400 crore, IIT Kanpur – Rs. 2,475, IIT Kharagpur – Rs. 3,700 crore, IIT Madras – Rs. 2,800 crore, IIT Guwahati – Rs. 2,695 and IIT Roorkee – Rs. 5,500 crore. These 7 IITs have different requirements based on the key areas they need to improve.
One of the Director said, “ The government felt the money sought was too much and advised the IITs to also explore alternate ways of raising funds. The government is now studying our proposals and we haven’t heard back from them yet.”
While the requirement of funds has been made clear by the IITs, it is now up to the government to approve the grants. Once the proposal is cleared, may the IITs achieve what they should.