The Union Cabinet on Thursday gave its approval to increase the block grant for the Indian Institute of Science (IISc), Bangalore, from the year 2007-08 over and above the level approved three years ago. | |
| Of the increased amount, Rs 73 crore will be released during the year 2007-08, according to a press release from the Press Information Bureau. The balance increase of Rs 72.5 crore due for 2007-08 will be released in 2008-09 along with the ad hoc block grant for financial year 2008-09. |
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| "The decision will help in restoring the financial health of IISc, Bangalore," the release added. |
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| During 2006-07 annual budget the finance minister had sanctioned Rs 100 crore for the institute. |
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