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Knowledge network to connect 1500 institutes

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CIOL Bureau
New Update

NEW DELHI, INDIA: Finance Minister Pranab Mukherjee, while presenting the Union Budget for the Financial Year 2011-12 in Parliament on Monday said that the government will set up a national knowledge network, connecting 1500 institutes with optical fibre network.

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While 190 will be connected in March 2011, the remaining will be connected by March 2012 said the Finance Minister.

He also said that the National Innovation Council under Sam Pitroda is underway in recognising universities and will give financial assistance of Rs 50 crore each to the two regional centres of Aligarh Muslim University (AMU) Murshidabad (West Bengal) and Mallapuram (Kerala).

The government will also provide financial assistance of Rs 20 crore to IIM-C, Rs 200 crore each to IIT Kharagpur and Maulana Azad Medical College, Rs 10 crore to Delhi School of Economics and Rs 10 crore to Madras School of Economics.

He also announced 24 per cent increase in educational outlay, now at Rs 52,057 crore and said that the government will give Rs.21,000 crore for Sarva Siksha Abhiyan. The government will also give Rs.500 crore more for national skill development fund.

In his speech he said the government will introduce GST bill amendment. He also said FII investment limit in infra corp bonds has bee raised by $15 billion FIIs can invest $40 billion in corporate bonds.

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