Cabinet okays Rs 150-cr corpus for School of Economics

The Cabinet on Saturday gave its approval for setting up a Rs 150-crore corpus fund for running the world-class School of Economics in Bengaluru, which will commence functioning from the next academic year (2017-18).

Briefing reporters after the meeting, Higher Education Minister Basavaraj Rayareddy said retired IAS officer Anup K Pujari had been appointed special officer for the institute, which will be named after the architect of the Indian constitution B R Ambedkar.

The government has already released Rs 107 crore as grants for the institute, coming up on 48 acres 38 guntas on the Bengaluru University campus in Jnanabharati. He said 50% of the corpus fund will be borne by the state government, while the balance will be mobilised through other sources. He said the School of Economics will function as an autonomous institution.

Law Minister T B Jayachandra said the Cabinet also gave its approval for extension of the term of the special investigation team constituted to probe cases referred to in the Karnataka Lokayukta report on illegal mining for a period of one year from January 24.

He said the SIT had so far filed charge sheets in 26 cases and ‘B’ reports in 18 cases. The probe by the agency into 15 cases was pending and hence the extension, the minister said.

Jayachandra said the Cabinet gave its approval for the implementation of the ‘Mathrupushtivardhini’ scheme of providing micro-nutrients to pregnant and lactating mothers in the most backward taluks at a cost of Rs 10.5 crore.