Five more IIMs, IITs to come up

New Delhi: Finance Minister Arun Jaitley onThursday said that five new IITs and IIMs will be set up across the country.

"...I also intend to set up five more IITs (Indian Institutes of Technology) in Jammu, Chhattisgarh, Goa, Andhra Pradesh and Kerala," Jaitley said while presenting the budget for 2014-15.

"Five more IIMs (Indian Institutes of Management) would be set up in the state of Himachal Pradesh, Bihar, Odisha, Punjab and Maharashtra. I propose to allocate an amount of Rs.500 crore for this."

Jaitley said that the country needs a large number of courses of higher learning which are of world class, and proposed the setting up of the Lok Nayak Jai Prakash Narayan National Center for Excellence in humanities in Madhya Pradesh.