Revised cost estimates for setting up of five Indian Institutes of Science Education and Research
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the revised cost estimates to the tune of Rs. 4,799 crore as against the originally approved cost of Rs,2,500 crore, for setting up of five Indian Institutes of Science Education and Research (IISERs) at Kolkata, Pune, Mohali, Bhopal and Thiruvananthapuram.
While construction of these five Institutes is in progress, approval of the revised cost estimates will enable the Ministry and the Boards of Governors of the Institutes to enhance the pace of work and expeditious completion of fully operational permanent campuses with 9,275 students, 928 faculty and 1,020 non-teaching staff by 2018-19.
These institutes will integrate Under-graduate education, Post-graduate education and research under the same umbrella. They will interact with National Laboratories, and other research institutes to develop a synchronous environment for research that would transcend rigid administrative structure and also encourage interdisciplinary research.
Many areas of basic science eventually evolve as applied sciences e.g. lasers, super conductivity, semiconductors, nano-materials etc. Research in such areas can generate significant intellectual properties which have the potential for generating sizeable revenue.
These institutes would also contribute to highly competent and trained manpower that would be a major catalyst for technological human resource revolution that would inevitably have an impact on the economic growth of the country.