Finance Minister Arun Jaitley, who presented the first national budget for self and Prime Minister Narendra Modi's government on Thursday, began by putting forth his concerns over economic slowdown and promised steps to ensure a course correction.
In addition to announcing schemes for disabled people and welfare of girl child, and increasing the foreign direct investment (FDI) limit to 49 percent in the insurance sector, he also stated that Film and Television Institute of India (FTII) and SRFTI in Pune should be accorded the status of 'Institute of National Importance'. The institute, which was established in 1960, began its courses from 1961. The Television Training wing, which had earlier functioned in New Delhi, was shifted to Pune in 1974. Later, the institute was fully aided by the Ministry of Information and Broadcasting, Government of India.
In a boost to the education sector, Jaitley also proposed setting up of five new Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs). He also proposed setting up of 12 new medical colleges.
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