IIPE Visakhapatnam gets Rs. 150 crore sanction in the Union Budget 2022

The Central Government has allotted Rs. 150 crores for the Indian Institute of Petroleum and Energy (IIPE), Visakhapatnam, in the Union Budget 2022-2023. This is the highest sanction granted ever since its establishment in 2016. Apart from this institute, the Union Government has also sanctioned funds for other Central and Tribal Universities. These funds would aid in the faster development of the respective campuses.

Speaking to Yo! Vizag, Director of IIPE Visakhapatnam, Professor VSRK Prasad, said that the Union Budget 2022-23 is predominantly focused on making technological advancements in the country. He opines that technological growth is the key to the development of the nation. The Director of IIPE is confident that the institution will serve as an advanced research centre for solar power. Apart from the Rs. 150 crores sanctioned in the Union Budget 2022, an initial budget of Rs. 150 crores has been sanctioned in the past for the construction of a full-fledged campus at Vangali Village, of Sabbavaram Mandal, Visakhapatnam.

Prof. Prasad aims for IIPE Visakhapatnam to be a centre of excellence and a major contributor in the field of research. Out of the 200 acres sanctioned for the construction of a dedicated campus, the institution has received clearance for 160 acres and is yet to receive permissions for occupancy of the remaining 40 acres. The Central Government sanctioning funds for the development of solar energy, 5G technology, installation of Electric Vehicle (EV) charging stations, and e-passports with embedded chips is proof that the nation is taking steps to develop technologically.

Prof. Prasad added that the implementation of Digital Universities is a great move to revolutionize the education system in the country. He feels this initiative will enhance the learning ability of students and also aid the teachers in coming up with effective teaching methods. The implementation of eco-friendly technology, such as EVs, will reduce the usage of conventional fossil fuels and establish a pollution-free environment. Further, he added that the collaboration of educational institutions and Public Sector Undertakings (PSUs) will result in outcomes that will benefit the research sector, and eventually the nation.

The IIPE Visakhapatnam campus, which was allocated 200-acres of land by the Andhra Pradesh State Government, is expected to be fully functional in the next two years. IIPE Visakhapatnam has major collaborations with leading international universities such as Texas A&M University, the University of Houston, and other Institutions of National Importance specializing in the energy domain. The primary objective of establishing IIPE is to meet the quantitative and qualitative gap in the supply of skilled manpower, for petroleum & energy sectors, and additionally boost the research activities needed for the growth of the energy sector.

Apart from IIPE Visakhapatnam, the Central University of Andhra Pradesh, Anantapur, has been allotted Rs. 56.5 crores from the Union Budget 2022. The Central Government has also sanctioned Rs. 44 crores for the tribal universities in Andhra Pradesh and Telangana, jointly. The Indian Institute of Management, Visakhapatnam (IIM-V), has been receiving funds through the Higher Education Financing Agency (HEFA), as per an agreement made in the year 2018. The HEFA allocates funds annually according to the guidelines set by the Government of India. HEFA sanctions funds for selected higher educational institutions such as the Indian Institutes of Technology (IIT), the Indian Institutes of Management (IIM), and the All India Institute Of Medical Science (AIIMS).