Increased allocation for higher education in the annual budget 2015-16
In the annual union budget for the year 2015-16, the allocation for higher education increased 13% compared to the allocation last year. Finance Minister Mr. Arun Jaitley, presented the budget in parliament and announced a sum of Rs. 26,855 crore ($4.3B USD) for the department of higher education. The budget presentation accounted for the government’s promise to have at least one major central institute in each state and also revealed plans to open an IIT in Bangalore and improve the facilities at the existing institutes of national importance.
(Courtesy of Sannam S4)
Source: Times of India