"Serious discussion is going on in the HRD ministry to revive the ancient Vikramshila University in Bihar's Bhagalpur district," Kushwaha told PTI.
He said the effort was aimed to bring back ancient glory of the university, which had fetched good image of the country as seat of learning in the ancient times.
The MoS, HRD, said inspiration to the project came from construction of Nalanda International University on the lines of ruin of that ancient university near it.
Vikramashila University was established by King Dharmapala during the eighth century period in response to a supposed decline in the quality of scholarship at Nalanda. Bhaktiyar Khilji had destroyed the university in the 12th Century.
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Vikramashila is located at about 45 km east of Bhagalpur and about 12 km north-east of Kahalgaon.
A team of researchers from Patna University had conducted excavation at the ancient Vikramshila University site from 1960 to 1969.
Another excavation was conducted in about 100 acres land of the ruin of Vikramshila University by Archaeological Survey of India under V S Verma from 1972-82. A large number of Buddhist and Hindu stupas besides a library with air-condition like facility was found during the excavation.