CURRENT AFFAIRS

Detailed explanation-1: -The allocations for Higher Education in the 2022-23 Union budget for UGC, IITs, NITs /NIEST, Central Universities and IoE are at Rs 28,580 crore. However, Rs 8,195 crore, or 29%, of the allocation to the higher education budget was for 23 IITs with 16,000 BTech seats.

Detailed explanation-2: -As per the Budget 2023, IIT has received a total outlay of around Rs 9,600 crores. Out of this, around Rs 8,000 crores have been allocated to the institutes as grants. Ministry of Education has a total outlay of Rs 1.13 lakh crores approximately.

Detailed explanation-3: -While it takes over Rs 3.4 lakh to educate an IITian per year, the student pays only Rs 90,000 per year. The rest is borne by the government. That is close to Rs 2.5 lakh per student per year, which is being paid by the tax payer.

Detailed explanation-4: -The Indian Institutes of Technology (IITs) are central government owned public technical institutes located across India. They are under the ownership of the Ministry of Education of the Government of India.

Detailed explanation-5: -The Indian Institute of Technology Madras (IIT Madras) generated more than Rs 1,000 crore in funding and revenue in 2021-22, the first time it made such an amount in a financial year. It got Rs 1,081 crore in 2021-22: a 51 per cent increase from Rs 714 crore in 2020-21.