In his maiden budget, Finance Minister Arun Jaitley said that the government has budgeted Rs 500 crore each to set up five new IITs and IIMs. (Cannot Spend Beyond Our Means: Arun Jaitley)
The premier engineering IIT colleges will be added to Jammu, Chhattisgarh, Goa, Andhra Pradesh and Kerala. (Budget 2014: Sensex Tanks 300 Points)
Top-ranked business schools or IIMs will be set up in Himachal Pradesh, Punjab, Bihar, Odisha and Maharashtra. (Finance Minister Takes 5-Minute Break)
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