Karnataka cabinet allocates Rs 2,500 cr to upgrade higher education institutions

The Karnataka cabinet on Friday decided to spend Rs 2,500 crore to upgrade the government higher education institutions, for which it will borrow Rs 1,750 crore.

The government has decided to implement a scheme for strengthening government higher education institutions with external funding of Rs 2,500 crore, Karnataka Law and Parliamentary Affairs Minister H K Patil told reporters after the cabinet meeting.

He said Rs 1,750 crore will be borrowed from the World Bank while Rs 750 crore will be the state government's share.

This amount of Rs 2,500 crore would be spent over a period of four years, starting from July 2025 and a preliminary project report would be submitted to the World Bank through the Department of Economic Affairs, Government of India for approval of external funding.

The government also resolved to publish the draft of the Karnataka Educational Institutions (Terms and Conditions for Recognition of Minority Educational Institutions) (College Education) (1st Amendment) Rules, 2024 (Annexure-3) in the Karnataka Gazette and invite objections and suggestions from those affected thereby.