While IT-BHU is excited about the development, the biggest advantage, it says, will be the financial and social benefits post conversion. Says SN Upadhyay, director, IT-BHU, "The institute will have funding and brand image similar to that of the IITs. It will have financial, academic and administrative autonomy similar to them."
An IIT status is crucial for the institute as it expects to receive more funding from the government from the next academic year. Currently the institute receives about Rs 50 crores per year and will be entitled to a grant of Rs 110 crore per year apart from Rs 30-50 crore towards research funding. The institute is also said to receive funding towards improvement of its infrastructure.
An IIT status will also help the institute attract good number of quality students with better IIT-JEE ranks. Says Upadhyay, "The academic standards of our college have always been at par with the IITs. With this official recognition, we will be able to attract better students and quality faculty too. This in turn will help us attract better companies on campus for placements."
The conversion will take around a year with the government modifying the BHU Act 1915 in Parliament.