On Wednesday, Shashi Tharoor, Minister of Human Resource Development said that to set up polytechnics as per the public private partnership(PPP) mode, a committee has been set up to revise the scheme by the AICTE.
Tharoor said, in the written reply to the Lok Sabha, a scheme to offer financial assistance has been approved by the Government to establish 300 polytechnics in the PPP mode during the 11th Five Year Plan period (2012-17). He added that However, the private partner's response to the scheme is poor.
Tharoor further added, "The AICTE ( The All India Council for Technical Education) anticipated the total cost excluding land to be Rs 15 crore per polytechnic. The scheme offers for Rs 3 crore central government fund towards capital assets, Rs 2 crore by the state government and a minimum of Rs 10 crore by the private partner,".
The land will be provided by the state government or by the private partner. The aegis based on the state procedure will be performed to get admission. In addition, the Institute Management Committee will be responsible for the appointment, he added.