Union Budget 2023-24: Marginal hike in allocation for IITs, NITs, IISERs
BUDGET 2023: Twenty-three Indian Institutes of Technology allocated INR 9,961.50 crore, which was INR 8,495 crore last year.
Union Budget 2023: Union Finance Minister Nirmala Sithraman presented the fifth Union Budget 2023 today (February 1) in the Parliament. In the Union Budget 2023, the 23 Indian Institutes of Technology (IITs) have been allocated INR 9,961.50 crore, which was INR 8,495 crore the previous fiscal year.
The National Institutes of Technology (NITs), which are 31 in number, and the Indian Institute of Engineering Science and Technology (IIEST) Shibpur have been allocated INR 4,820.60 crore in the fiscal year 2022-23. Last year, NITs and IIEST Shibpur were allocated INR 4,364 crore. A total of INR 3,935 crore was allocated to NITs and IIEST in the fiscal year 2021-22.
While the government has allocated INR 560 crore to the Indian Institutes of Information Technology (IIITs), which was INR 542.52 crore crore in 2022-23, Indian Institutes of Science Education and Research (IISERs) and the Indian Institute of Science (IISc) have been allocated INR 1,462 crore and INR 815.40 crore, respectively. The two institutes were allocated INR 1379.53 crore (IISERs) and INR 727.25 crore (IISc) during the previous fiscal year. Schools of Planning and Architecture (SPAs) have been allocated INR 175 crore, which is less than the previous year. In the 2022 Budget, SPAs were allocated a total of INR 154.90 core.
BUDGET 2023: Allocation for engineering institutes and their comparison
| Institute |
2023-24 (in crore) |
2022-23 (in crore) |
| IITs |
INR 9,661.50 |
INR 8,495 |
| NITs, IIEST |
INR 4,820.60 |
INR 4,364 |
| IIITs |
INR 560 |
INR 542.52 |
| IISERs |
INR 1,462 |
INR 1379.53 |
| IISc |
INR 815.40 |
INR 727.25 |
This is the last full-fledged Budget for this government ahead of the 2024 Lok Sabha elections. Union Finance Minister Nirmala Sitharaman started off by saying that this the ‘first Budget of Amrit Kaal’ and a blueprint for India @ 100. She said her Budget will have seven priorities, which she called the ‘Saptarishis’ guiding her outlook. In her fifth Budget speech, the Finance Minister pushed for a tech and knowledge-driven India.
Three centres of excellence for artificial intelligence will be set up to enable 'Make AI for India' and 'Make AI work for India'. In her speech, Finance Minister Nirmala Sitharaman announced that big focus will be laid on robotics, drones and AI. New age courses for Industry 4.0 will be introduced.
100 labs to be set up for 5G solutions across engg institutions
Sitharaman said 100 labs for developing apps using 5G services will be set up in engineering institutions. To realise new range of opportunities, business models and employment potential, labs will cover among others, apps such as Smart Classrooms, Precision Farming, Intelligent Transports Systems and Healthcare.
India Budget 2023 is being presented at a time when the major advanced economies in the world are crippled by a slow down and are even staring at a possible recession.
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