Union Budget 2015: 5 AIIMS, 2 IIMs, 1 IIT and more institutes announced

Five new All India Institutes of Management (AIIMs), two new Indian Institutes of Management (IIM) and one Indian Institute of Technology (IIT) has been announced in the Union Budget 2015 by Finance Minister Arun Jaitley on Saturday, February 28.  

Furthermore, Indian School of Mines has been upgraded to IIT. The FM also proposed the launch of AIIMS-like institutes in the states where the new AIIMS have been announced to improve health and medical services.

The FM also announced the launch of a Postgraduate Institute of Horticulture Research and Education in Amritsar and a University of Disability Studies in Kerala. Two institutes of Science and Education Research will come up in Nagaland and Odisha. Three pharmaceutical institutes has been proposed in Maharashtra, Rajasthan and Chattisgarh while North East will get a Centre of Film Production, Animation and Gaming. Two Apprenticeship Training Institutes for Women will be set up in Haryana and Uttrakhand.

The FM also said a separate Ministry for skill development will be set up “which is about to launch a massive programme.”

The budget laid high emphasis on entrepreneurship and start-ups by announcing several schemes. “We also have to encourage and grow the spirit of entrepreneurship in India and support new start-ups.  Thus can our youth turn from being job-seekers, to job-creators,” said Jaitley during the two-hour budget speech.

Government will set up Self-Employment and Talent Utilisation (SETU), a techno-financial, Incubation and Facilitation Programme to incubate start-ups in every aspect. Rs 1,000 crore has been set aside for the same. “Concerns such as a more liberal system of raising global capital, incubation facilities in our Centres of Excellence, funding for seed capital and growth, and ease of Doing Business etc need to be addressed to create lakh of jobs and hundreds of billion dollars in value,” said Jaitley, while applauding the fast growing scenario in start-ups experimenting with cutting-edge technologies..

“Educating and skilling Indian youth to enable them to get employment is the altar before which we must all bow....We also have to ensure that education improves in terms of quality and learning outcomes,” said the FM.

In an effort to make higher education accessible for poor and middle class students, the FM also proposed to set up a fully IT-based ‘Student Financial Aid Authority’ to distribute scholarships and Educational Loan Schemes.

Here are the chief highlights of the Budget 2015:

 

Budget highlights for education sector

1. Five new AIIMS to be set up in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh and Assam

2. Two new IIMs for the states of Jammu & Kashmir and Andhra Pradesh

3. One IIT to be set up in Karnataka

4. Indian School of Mines in Dhanbad to be upgraded to IIT

5. Three new pharmaceutical institutes launched in Maharashtra, Rajasthan, and Chattisgarh.

6. Post Graduate Institute of Horticulture Research and Education to be launched in Amritsar.

7. North East to get Centre of Film Production, Animation and Gaming

8. Two Institutes of Science and Education Research to come up in Nagaland and Odisha

9.  University of Disability Studies to be set up in Kerala.

10. Apprenticeship Training Institute for Women in Haryana and Uttrakhand

11. Rs. 150 crore allocated Atal Innovation Mission (AIM) – an Innovation Promotion Platform – to foster the culture of innovation, R&D and scientific research in India.

12. IT-based Student Financial Aid Authority to administer and monitor Scholarships and Educational Loan Schemes to enable all poor and middle class students to pursue higher education.

13. Government to establish SETU (Self-Employment and Talent Utilisation) – a Techno-Financial, Incubation and Facilitation Programme – which will support all aspects of start-up businesses, and other self-employment activities, particularly in technology-driven areas. Rs 1000 crore set aside for it in Niti Ayog.

14. The FM also created a separate Ministry for skill development.