Out of 1896 Government ITIs in the country (as on 1.1.2007), 500 Government ITIs are being upgraded into Centers of Excellence under a scheme started from 2005-06. In his Budget Speech 2007-08, Hon. Union Finance Minister announced upgradation of remaining 1396 Government ITIs into Center of Excellence through Public Private Partnership. Accordingly, this scheme with total outlay of Rs 3665 crore (Rs. 3490 crore for upgradation of 1396 ITIs @Rs. 2.5 crore per ITI and Rs 175 crore for management, monitoring and evaluation of the scheme) was framed. In its meeting held on Dt. 25.10.2007, CCEA had given, in principle approval for the Scheme for the XI Five Year Plan period and financial approval of Rs. 750.04 Crore for the year 2007-08 for the first batch of 300 ITIs.