Finance Minister Arun Jaitley, while presenting the Union Budget 2014-15 in the Parliament today, has announced to set up 5 more IITs and 5 more IIMs in the country.
One of the IIMs will be established in Odisha.
“Five more IIMs (Indian Institutes of Management) would be set up in the state of Himachal Pradesh, Bihar, Odisha, Punjab and Maharashtra. I propose to allocate an amount of Rs.500 crore for this,” Jaitley said.
He said that the country needs a large number of courses of higher learning which are of world class, and proposed the setting up of the Lok Nayak Jai Prakash Narayan National Center for Excellence in humanities in Madhya Pradesh.
“I also intend to set up five more IITs (Indian Institutes of Technology) in Jammu, Chhattisgarh, Goa, Andhra Pradesh and Kerala,” Jaitley said while presenting the budget.