Financial support to Indian Maritime University

The Cabinet Committee on Economic Affairs today 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 Central University with all India Jurisdiction. It will generate employment opportunities in Maritime sector not only for Indian Shipping but also to meet the shortage of manpower of the global shipping.

The total estimated revenue and expenditure over a period of five years from 2009-10 to 2013-14 of the IMU are Rs.449.44 crore and Rs.436.04 crore respectively. Although, there is a surplus of Rs.13.40 crore, yet during the first two years, there is a deficit of Rs.6.92 crore. The total fund requirement is envisaged to be Rs.282.25 crore out of which Rs.275.33 crore is as Capital support and Rs.6.92 crore to meet the deficit. This will be met through plan support to be provided by the Government of India.

The Capital support will be utilized for construction of Academic Block, Administrative Block and Hostel Block etc. at the IMU Head Quarters etc. The funds will also be utilized for implementation of reservation of Other Backward Classes (OBC) in the existing Maritime Institutes merged with IMU in compliance of the Central Educational Institutions (Reservation in admissions) Act, 2006. Out of total capital support of Rs.275.33 crore, Rs. 138.25 crore will be utilized for IMU HQ and Chennai campus. Apart from this Rs.27.35 crore for Mumbai Campus, Rs.17.08 crore for Kolkata Campus, Rs.66.38 crore for Vizag campus and Rs.26 crore for Cochin Campus has been earmarked.

The Scheme will be implemented during the remaining three years of the 11th Five Year Plan i.e. 2009-10 to 2011-12 and first two years i.e. 2012-13 and 2013-14 of the 12th Plan. It will be implemented as a Central Scheme through Plan support to be provided by the Government of India.

The Ministry of Shipping had set up an Indian Maritime University (IMU) in November, 2008 in Chennai with campuses at Chennai, Kolkata, Mumbai and Visakhapatnam as a Central University though IMU Act, 2008 (22 of 2008). The main objectives of formation of IMU are to facilitate and promote maritime studies, research and extension work with focus on emerging areas of studies including marine science & technology, marine environment, socio-economic, legal and other related fields, and also to achieve excellence in these and connected fields. It will promote advanced knowledge by providing institutional and research facilities in such branches of learning as it may deem fit, make provisions for integrated courses in science and other key areas of marine technology and allied disciplines. Since there are sizeable number of private institutions imparting maritime education and training, the University will standardize the quality of such education and training through affiliation and academic supervision.

Major Impact:

a. Quality manpower: Quality education & training will ensure not only quality manpower but also to make a shift from training to education to concentrate on high-end academic programmes in areas like Management, Law, Policy, Environment, Maritime Administration etc.

b. Service export and Foreign Exchange: The IMU will help meet the expected global shortage of manpower besides generating employment as well as earning foreign exchange.

c. Research & Development: The IMU will focus on Research & Development in the sector. At present, the R&D efforts are almost negligible, which renders the country dependent on others for skills and knowledge upgradation.

d. Enhanced status: It will enhance the image of India as a maritime nation.

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(Release ID :60146)