This was stated by the Minister of State for Human Resource Development Dr Shashi Tharoor in Lok Sabha.
He said that the Government had approved the scheme to provide financial assistance to set up 300 polytechnics under PPP mode during XI Plan.
However, the response of the private partners to the scheme was poor.
The All India Council for Technical Education (AICTE) estimated the total cost to be Rs.15.00 crores per polytechnic, excluding land.
The scheme provides for Rs.3.00 crores Central Fund towards capital assets, Rs.2.00 crores by the State Government and a minimum of Rs.10.00 crores by the private partner.
The land is to be provided by the private partner; alternatively the State Government will provide land.
The admissions are to be made under the aegis of State Government, based on the admission procedures being followed in the State.
Appointments will be made by the Institute Management Committee (IMC).