The Cabinet Committee on Economic Affairs has approved the proposal for initiation of the Third Phase of Technical Education Quality Improvement Programme (TEQIP).
The Project will be implemented as a ‘Central Sector Scheme’ with total project outlay of Rs. 3600 crore.
However, the project would be initiated with a cost of Rs. 2660 crore, with the possibility of additional financing of Rs. 940 crore at later stage.
Out of the Rs.2660 crore, the Central share will be Rs.1330 crore and external assistance from the World Bank through International Development Association (IDA) Credit of Rs. 1330 crore ($ 201.50 million as first tranche).
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,
Background:
The Technical Education Quality Improvement Programme (TEQIP) commenced in 2003 with World Bank assistance as a long term programme to be implemented in three phases.
The first phase of TEQIP commenced in 2003 and ended on March 31st, 2009. It covered 127 institutes across 13 States including 18 Centrally Funded Technical Institutions (CFTIs).
TEQIP-II commenced in August 2010, covering 23 States/Union Territories (UTs) and 191 Institutes (including 26 CFTIs).
TEQIP-II is scheduled to conclude in October, 2016.
Both projects have had a positive impact on the infrastructure and educational standards in the technical institutions where they were taken up.
Institutions in the central, eastern and north-eastern region and hill States are at present in need of similar and specific interventions.
The initiation and implementation of the project TEQIP-III will bridge this gap.