Jio Institute to earn Rs 100 crore from tuition and hostel fee of 1,000 students in its first year

first_img10 days ago, the Jio Institute was born according to Google and was included in the list of Institutes of Eminence. Now, it has come up with its business plan to take students’ fee and earn from their tuition and hostel fee.The fee will be paid by roughly 1,000 students in the first year of operation of the institute. It has projected to earn Rs 100 crore according to this plan.Reliance Foundation for scholarshipsThe Reliance Foundation is also planning to waive off Rs 38 crore as scholarships for meritorious students in the first year.This will increase to Rs 76 crore in the second year, as per their application to the government — reported by Indian Express.What does the Reliance Foundation’s proposal say about the courses?In its first year, Jio Institute, as per its proposal, will be offering the following seats for these courses — offering the largest number of seats in the discipline of natural sciences.Natural Sciences: 300Engineering and Computer Science: 250Humanities: 200Management and Entrepreneurship:125Law: 90Media and Journalism: 60Performing Arts: 50Sports Sciences: 80Urban Planning and Architecture: 50Estimated expenditure for Jio Institute Operating expenditure for the first year: Rs 154 croreSalaries and benefits meant for faculty and staff: Rs 93 croreAccording to the Reliance Foundation’s claim, it will hire teachers from the top 500 global universities.Non-existence of Jio InstituteOn July 9, the news of Jio Institute was announced by Prakash Javadekar, MHRD Union Minister, in a series of tweets on Twitter.The non-existing institute by Reliance Foundation had already found a place in the list of ‘Institute of Eminence’ along with many other renowned institutes of India.advertisementThis list included IIT Bombay, IISc, Bits Pilani etc.Controversy behind Jio InstituteJavadekar’s announcement rose Twitterrati to react over how a proposed university can be qualified for the Institute of Eminence tag.Many Twitter users had deeply criticized the move and questioned MHRD for Jio Institute being awarded the statusFew cartoonists shared their cartoons on Jio Institute in a satirical manner on platforms like Facebook and TwitterLater, MHRD had released a document claiming the parameters under which Jio Institute became the ‘Institute of Eminence’However, Twitterati wasn’t convinced with the clarification provided on Jio InstituteRead: Comedy of Errors! Jio Institute was counted among Institutes of Eminence: Here’s why it’s amusingList of colleges in ‘Institutes of Eminence’ listIndian Institute of Science (IISc) Bangalore, KarnatakaIndian Institute of Technology (IIT) Bombay, MaharashtraIndian Institute of Technology (IIT), DelhiJio Institute (Reliance Foundation), PuneBirla Institute of Technology & Sciences (BITS) Pilani, RajasthanManipal Academy of Higher Education, Manipal, KarnatakaRead: NEET 2018: Supreme Court stays Madras HC order to grant 196 marks for Tamil candidateslast_img

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