The 2022-23Unionbudget makes a wide spectrum of allocations for the premier educational institutes ofAndhra Pradesh. A sum of 150 crore has been earmarked for Indian Institute of Petroleum and Energy,Visakhapatnam.
This is the highest ever annual allocation for the institute since its inception in 2016. Central University, Andhra Pradesh has been sanctioned 56.6 crore as budgetary support. Andhra Pradesh Central Tribal University, being operated from Vizianagaram, may get 22 crore as its share as 44 crore has been allocated for the tribal universities of Andhra Pradesh and .
The Indian Institute Of Management (IIM)-Visakhapatnam is already getting funds through the Higher Education Financing Agency (HEFA) as the Union ministry of education entered into an agreement with the HEFA for release of funds to the IIM-V in 2018. Thus, no separate allocation has been made for this premier business school.
As per the Andhra Pradesh Reorganisation Act, 2014, the Union Government sanctioned about several national institutions to Andhra Pradesh, including IIM-Visakhapatnam, IIPE and Tribal University to north-coastal Andhra Pradesh. Permanent campuses of these institutions are in various phases of execution. IIM-Vizag is expected to move into its permanent campus in Gambheeram this year, while the IIPE has recently got land for construction of a permanent campus. A place for the permanent campus of tribal university is yet to be finalised in Vizianagaram district.