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. The premier engineering IIT colleges will be added to Jammu, Chhattisgarh, Goa, Andhra Pradesh and Kerala. Top-ranked business schools or IIMs will be set up in Himachal Pradesh, Punjab, Bihar, Odisha and Maharashtra.
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