Rs.282 crore aid for Indian Maritime University
By IANSWednesday, April 7, 2010
NEW DELHI - The union Cabinet Thursday approved the proposal to provide financial support of Rs.282.25 crore to Indian Maritime University (IMU), Chennai, to meet capital expenditure as well as recurring deficit.
The IMU has been established as a central university with all-India jurisdiction, to help generate employment opportunities in the maritime sector.
The financial support will be utilised for construction of academic block, administrative block and hostel at the IMU. It will also be utilised for implementation of reservation of Other Backward Classes (OBC) in the institute.
The cabinet in an official note said that it will help quality manpower, research and development and earn foreign exchange by meeting the expected global shortage of manpower in this sector. The institute has several campuses including in Mumbai, Cochin, Kolkata and Vizag.
