Revised cost estimate for 8 new IITs more than doubled

The revised cost estimates to set up eight new IITs was today more than doubled to help the institutions bring about quantitative and quality growth in areas of research and publication.
The Union Cabinet approved the revised cost estimates for setting up eight New IITs at Bhubaneswar, Gandhinagar, Hyderabad, Indore, Jodhpur, Mandi, Patna and Ropar.
The revised estimate is Rs 13,990 crore to be spent over a period of 11 years from 2008-09 to 2018-19.
The original project cost was Rs 6,080 crore. The increase in expenditure due to escalation in both time and cost overrun is Rs 7,910 crore, an official statement said.

The student strength in each of the IITs at the end of the project will be 2,360. The total student capacity would be 12,880 in these IITs by the end of the 11th year -- March, 2019.
The direct beneficiaries in terms of numbers would be about 12,880 students. However, indirectly the new IITs would be expected to bring about quantitative and quality growth in the areas of research, publication of books and research papers, registered patents, trademarks, designs and quality improvement programmes.

"These institutes would also meet the emerging needs of the industry and the economy as a whole, for skilled technical manpower is expected to be met from the talent pool of trained personnel of these new institutions...These institutions will provide research and development atmosphere with sizable infrastructure...," the statement said.

In July, 2008, the Union Cabinet had approved establishment of eight new IITs. Each institute was to be established with a total outlay of Rs 760 crore amounting to Rs 6,080 crore for all eight new IITs.
In another decision, the Cabinet also gave ex post facto approval for extension of Addendum IX for the period April 1, 2011 to March 31, 2016 and renewal of MoU between Government of India and Shastri Indo-Canadian Institute (SlCI) by way of signing supplementary Addendum X to the agreement signed in November, 1968.
The approval would pave the way for Shastri Research Fellowship and Mobility Programme, doctoral and post-doctoral research and publication of research materials, documents and reports.