New Delhi, Sep 4 (UNI) The Union Cabinet today instituted Rs 1,296 crore fellowships of the Department of Technology (DBT) and UK-based Wellcome Trust.
The DBT and Wellcome Trust will contribute Rs 648 crore each, over a period of ten years commencing 2008-09, for the programme, an official spokesperson said.
The DBT will incur an expenditure of Rs 240.059 crore in implementing the programme during the remaining fours (2008-09 to 2011-2012) of the XIth Plan.
A special purpose vehicle will be operated as an independent public charitable trust with two trustees-- one foreign national nominated by Wellcome Trust and the other an Indian representing DBT-- to implement the programme.
''The programme will result in a strong, world-class human resource foundation in the high-end biomedical research at a scale where the country can make a global impact,'' the spokesperson said.
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