The Indian Institute of Technology (IIT) groups are going to get a major boost in terms of the government loans. The proposal came on the wake of the Revitalising Infrastructure and Systems in Education (RISE) announced during the Union Budget this month. As per the RISE scheme, all the centrally funded institutes (CFIs) would get a chance to buy INR 1,00,000 Cr. The amount can be availed over a period of four years and can be used to expand the existing infrastructure. Out from the total amount, IITs would get INR 25,000 Cr – making them the largest group out from CFIs.
Well, the central universities would receive INR 20,000 Cr, while the NITs can borrow up to INR 11,300 Cr.