Mumbai: The Government will raise Rs. 20000 crore for the higher education financing agency announced in the previous budget in three years through debt instruments, human resource development minister Prakash Javadekar said after an IIT councel meeting at the Indian institute of Technology Bombay on Friday.
The Council proposed a monthly rs. 75000 Prime Minister Scholarship scheme for select students who are good at research and innovation. The proposal will have to be cleared by the Union cabinet before it can come into effect.
Concerned about suicides at the IITs, the council said it would create wellness centres to help student cope with exam related stress.”These centres will focus on holistic well being of students, taking care of their physical and mental health. The student will be encouraged to seek help from counsellors,” a source in IIT- Bombay said.
Javadekar said the government would allocate rs. 2000 crore for the higher education financing agency in two years while the rest would be raised from the market.