“The amount computed as non-plan grants for the IITs will now be based on student strength under the new proposal. Expenditure on scholarships/fellowships, being a planned activity, shall henceforth be funded through plan funds,” said a press release.

"The Block Grant Scheme would provide for matching grants from the government for the savings made by the institute from revenue expenditure. This is expected to instill fiscal discipline among the institutes and encourage them to generate more resources,” the government statement said.

It said the financial health of the eight IITs and IIS, Bangalore, will improve and these institutes will be encouraged to generate more revenue which will in turn enable them to achieve further financial and functional autonomy.

The IITs to benefit from the revised block grant scheme include the institutions at Bombay, Delhi, Kharagpur, Kanpur, Madras, Roorkee, Guwahati, BHU (Varanasi), apart from IISc, Bangalore.

(Agencies)

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