New Delhi: The Union Cabinet approved a new scheme. It is called the MERITE Scheme. Prime Minister Narendra Modi led the meeting.
The scheme will improve technical education. It will cover all states and union territories. It follows the NEP-2020 policy.
The total cost is Rs. 4,200 crore. The period is from 2025-26 to 2029-30. The World Bank will give a loan. The loan is for Rs. 2,100 crore.
275 institutions will be supported. These are government and government-aided. There will be 175 engineering colleges. There will be 100 polytechnics.
Institutions like NITs will get help. State engineering colleges will also get help. Polytechnics will get help.
About 7.5 lakh students will benefit. State technical education departments will also get support.