1,101 students placed with gross salary Rs.14.11 per annum claims IIT-Bombay report card
Even as the manufacturing sector faces a slowdown, the Indian Institute of Technology Bombay (IIT-B) witnessed a much better placement season in the 2018-19 academic year as compared to 2017-18.
According to the recently-released IIT-B placement report for 2018-19, the average gross salary offered on the campus increased to ₹14.11 lakh per annum from ₹12.32 lakh, while the average cost to company rose to ₹17.49 lakh from ₹15.69 lakh. The number of students who got placed also rose to 1,101 from 1,086, and the number of offers from core engineering and technology firms increased to 382 from 324.
In recent years, IIT-B has been witnessing a steady rise in the packages offered by companies. The average gross salary grew by 8% in 2017-18, compared to ₹11.41 lakh in 2016-17. “While a lot of talk about the economic outlook is not good, I believe that this is a sign that organisations are willing to invest in future talent,” said Rituparna Chakraborty, executive vice-president at Team Lease Services, a human-resource consulting agency.
Data from the Central Statistics Office show that India’s factory output growth dropped to 2% in June 2019, as compared to 7% in June 2018. Manufacturing, mining and power generation sectors saw factory outputs decline in June 2019 by 1.2%, 1.6% and 8.2% respectively.
However, at IIT-B, with 382 job offers, the engineering and technology sector has fared better than the last few years. In 2017-18, engineering and technology companies had made 324 offers — down from 345 offers in 2016-17 and 381 offers in 2014-15. The number of job offers in the IT sector increased to 186 in 2018-19 from 177 in 2017-18 and 270 in 2015-16. “The growth is not a lot, but it’s still encouraging,” said Chakraborty.
However, experts claim IIT-B’s rise in global rankings has also helped during placements. “IIT-B has improved its quality of research and industry integration over the past few years to help it rise up in global rankings. It has also forged close ties with Indian start-ups and growing tech companies. Hence, it is no wonder that it has become the top choice for Indian and international companies,” said Akhil Shahani, managing director, The Shahani Group.
With elections to the Himachal assembly barely a few months away, the BJP is making a determined bid to make inroads into Congress-held constituencies. Chief minister Jai Ram Thakur on Friday doled out projects worth ₹102 crore to the Rohru assembly segment, a strong Congress citadel. The Congress has been winning elections from Rohru since 1951.
State urban local bodies (ULB) minister Kamal Gupta on Friday said any official, who repeatedly raises objections to a file, will be suspended with immediate effect--three days after an ugly spat broke out between MCG's chief engineer T L Sharma and a councillor of ward 13 at the municipal corporation's office at Sector 34 and councillors congregated a day later to discuss the future course of action against Sharma.
According to the Meteorological Centre, Chandigarh, the average maximum temperature was 4.9 degrees above normal across Haryana. The city on Thursday recorded a maximum temperature of 44. 7C and a minimum of 26.4C, said the IMD. According to Manmohan Singh, director of Meteorological Centre, Chandigarh, a cyclonic circulation is prevailing over southern Haryana and adjoining areas. Singh, however, said temperatures will soar again after four to five days, and the heat wave will prevail thereafter.
Chandigarh's cases shot up from six to 18 in the past 24 hours, while Mohali also recorded a spike from seven to 11. In Panchkula, the cases saw a slight rise of four to seven. The people found infected in Chandigarh are residents of Sectors 19, 20, 21, 26, 27, 34, 35, 37, 44 and 48, Manimajra and PGIMER campus. This includes 75 positive patients in Chandigarh, 55 in Mohali and 22 in Panchkula.
After keeping it on the back-burner for several years, the UT administration has finally made first moves in framing guidelines for using the Urban Development Fund. The fee collected from conversion of properties from leasehold to freehold is deposited in UDF and can be used for different development projects in the city. The administration had allowed the conversion of residential leasehold properties to freehold in 2017.