Cabinet approves the setting up of NIFT centre at Rae BareliNovember 14th, 2007 - 10:17 am ICT by admin
It will also minimise the regional mismatch between the number of seats available and the number of applicants based on present locations of NIFT centres.
It would also meet the requirement of additional seats on account of implementation of Other Backward Classes (OBC) reservation as and when it is implemented.
The centre would be first centre to be set up in any backward areas of the country.
The cabinet also gave its approval for introduction of the Block Grant Scheme of funding on the lines of Indian Institute of Technology (IITs), Indian Institute of Management (IIMs), for NIFT.
This will provide further functional and financial autonomy to the institute and will encourage it to generate more internal resources, promote innovation and result in an overall improvement in the standard of education and research.
The base year for the Block Grant Scheme will be 2006-07 and the scheme will come into effect from 2007-08. (ANI)
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Tags: additional seats, block grant, financial autonomy, iims, indian institute of management, indian institute of technology, institute of management, institute of technology, internal resources, mismatch, nift, obc, rae bareli, technology iits