The Bill is aimed at fulfilling the need for quality manpower in areas like science, engineering and technology and will help the 19 national institutes of technology (NITs) to become centres of excellence like the IITs.
As per another Cabinet approval, ITI will be able to sell its entire equity holding in its joint venture company Fibcom India. ITI will get Rs 11.6 crore from the stake sale. It had invested Rs 4.6 crore in the company. The loss of the JV company will not have any affect on ITI, I&B minister Priyaranjan Dasmunshi said.
The decision regarding the extension of the date for compliance of enhancement in telecom FDI ceiling from 49% to 74% has been postponed by another 4 months till July 2, 2006.