Interim Budget 2024: Nominal Rise in Allocation for IITs, NITs, IISERs, IIITs Witness a Dip
Interim Budget 2024-25: The Union Finance Minister Nirmala Sitharaman today announced the Union Budget 2024 in parliament. This year's budget has earmarked INR 47,619.77 crore for Indian Institutes of Technology (IITs). Check budget allocation for IITs, NITs, IISc and IISER here.
Interim Budget 2024: Nominal Rise in Allocation for IITs, NITs, IISERs, IIITs Witness a Dip
Interim Budget 2024-25: The interim Union Budget tabled by Nirmala Seetharaman, Union Finance Minister brought smile and a bit of concern on the face of the education sector. The Skill India Mission has trained 1.4 crore youth, upskilled and reskilled 54 lakh youth, and established 3000 new ITIs. A large number of new institutions of higher learning, namely 7 IITs, 16 IIITs have been set up.
In the 2024-25 fiscal year, the Department of Higher Education has been allocated a budget of INR 47,619.77 crore, marking an increase from the previous year.
As per the interim budget 2024, the budget outlay for the Indian Institutes of Technology (IITs) as seen an increase from last fiscal’s allocation from INR 9,661.50 crore to INR 10324.50 crore. Along with these two top higher education institutions, the budget outlay for the Indian Institute of Science, Education and Research (IISERs) has also seen a raise from INR 815.40 crore in 2023-24 to INR 918.27 crore in 2024-25.
Allocation for IITs, NITs, IISERs
Check budget allocation for IIITs, IITs, NITs and IISc here:
| Institutes |
2024-24 (in crore) |
2023-24 (in crore) |
| IITs |
INR 10324.50 |
INR 9,661.50 |
| NITs, IIEST |
INR 5040.00 |
INR 4,820.60 |
| IIITs |
INR 515.91 |
INR 560 |
| IISERs |
INR 1540.00 |
INR 1,462 |
| IISc |
INR 918.27 |
INR 815.40 |
Allocation for IITs
According to the statement issued by the Union Finance Minister, seven Indian Institutes of Technology (IITs) and sixteen Indian Institutes of Information Technology (IIITs) were established in the previous year. This year, the IITs have received a budget allocation of INR 10,324.50 crore, marking an increase from the INR 9,661.50 crore allocated in 2023.
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