20 IIITs to come up with the PPP mode

The ministry of Human Resource Department of India has decided to prepare a public-private-partnership (PPP) model for setting up 20 Indian Institute of Information Technology (IIIT) in the country. There will be 85:15 ratio of expenditure between the government and industry for this project.

Both the Govt. and the industry has been conveyed their approval for such initiative and are ready to pay their respective share for the expenditure of the project. The ministry has prepared the entire blue-print of the project.

As per that note, approximately Rs. 200 crore is to be invested for setting of each Indian Institute of Information Technology (IIIT). The Govt. will bear 85% of the total expenditure. In this 85% of spending, Central Govt. will pay 50% of the money while State Govt. has to pay the remaining 35% of the expenses.

That means the Centre and the State Govt. will pay Rs. 100 crore and Rs.70 crore respectively for setting up of each IIIT. The industry will contribute the rest Rs.30 crore.