[rajkrish]

New Delhi, Apr 26 : The Union Cabinet on Thursday gave its approval for the setting up of Indian Institute of Space Science and Technology (IIST).

It also approved initial investment of Rs. 270 crores and annual recurring cost of Rs. 40 crores into the IIST.

"The Indian Space Research Organization (ISRO) has been experiencing severe shortage of highly talented graduate and post-graduate scientists and engineers during the last few years to take up the challenges of research and development in the areas of space science and technology," a Cabinet release said.

The IIST being set up on the lines of Indian Institutes of Technology (IITs),will provide high quality undergraduate and postgraduate education and research programmes in space science and technology.

It will also offer integrated Masters in space science with customised curriculum to meet the high technology requirements of the ISRO.

The courses are proposed to commence from the academic year 2007-08, at an alternate campus in Vikram Sarabhai Space Centre, Thiruvananthapuram.The campus and other infrastructure facilities will be put in place within 24 months, the release said.

The institute will offer 150-200 seats annually. The entire expenses of the course will be supported by ISRO in the form of scholarships and assistantships, and the brighter lot would be directly absorbed by the ISRO.