IIT-Bombay to get `1,000 cr financial aid, says PM Modi

Innovate or stagnate, says PM; praises IITs

PM Modi on Saturday pitched for improving the quality of education in institutions like IITs and invited suggestions from teachers and intellectuals in this regard. He also stressed on the need for innovation, saying societies that do not innovate, stagnate. Addressing the 56th annual convocation of IIT-Bombay, he announced a financial aid of Rs 1,000 crore for the institute, saying that six decades of "constant trying" had made it an institute of eminence.

He said seven lakh engineers pass out of the country's educational campuses and a collective effort was required to ensure that they get high quality of education and acquire the necessary skills. "I appeal to teachers and intellectuals present here that they should think about how quality can be improved and come up with suggestions. It is our responsibility to ensure that not only quantity but quality too is of high level. The government is also actively taking steps for this," Modi said.

Heaping praise on IIT-B, Modi said, "It is due to last six decades of constant trying that IIT-B has made its place as one of the country's eminent institutes. You will be receiving a financial aid of Rs 1,000 crore which will help in the development of infrastructure." The prime minister said several students who have graduated from the institute are actively participating in the country's development.

Modi said that in the last four years, seven IITs, seven Indian Institute of Management (IIMs), two Indian Institutes of Science Education and Research (IISER) and 11 Indian Institute of Information Technology (IIITs) have been approved. "In order to improve infrastructure, Revitalisation of Infrastructure and Systems in Education (RISE) programme has been initiated.