On Monday, the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved the proposal for initiation of the 3rd Phase of Technical Education Quality Improvement Programme (TEQIP). This will be implemented as a 'Central Sector Scheme' with total project outlay of Rs 3,600 crore.
The Centre will focus on low income states, hill states, northeast, and Andaman and Nicobar islands in phase III of its TEQIP, which aims to raise standards in educational institutions.
Announcing the Cabinet decision, HRD Minister Prakash Javadekar said that the focus in this phase would be on seven low income states (Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Rajasthan and Uttar Pradesh), 3 hill states (Himachal Pradesh, J&K and Uttarakhand), 8 northeastern states (Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura) and Andaman and Nicobar Islands.
He said that educational institutions will be chosen on the basis of a challenge mode like the competition that was held for cities under the Swacch Bharat scheme.
Javadekar said that in the first two phases of TEQIP, southern and western states had benefited a lot so the focus is going to be on some other states in the third phase.
According to a statement released by the HRD ministry, the project would be initiated with a cost of Rs 2,660 crore, with the possibility of additional financing of Rs 940 crore at a later stage.
Out of Rs 2,660 crore, the Central share will be Rs 1,330 crore and external assistance from the World Bank through International Development Association (IDA) credit of Rs 1,330 crore (USD 201.50 million as first tranche), it added.
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The project will be implemented with the facility of Direct Funds Transfer to the accounts of beneficiary institutes. The project will be initiated in the current year and will be co-terminus with Fourteenth Finance Commission (FFC) i.e. 2019-20, the statement added.