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Under the scheme of Up gradation of 1396 Government ITIs through PPP, 1227 Government ITIs have been covered and an Industry Partner (IP) is associated with every ITI covered under the scheme. Institute Management Committee (IMC), registered as a society, has been constituted in each ITI and is headed by the Industry Partner. Interest free loan of Rs. 2.50 Crore per ITI was released by the Central Government directly to the IMC Society of the ITI. Financial and academic autonomy have been given to the IMC society. The interest free loan is repayable by the IMC with a moratorium of 10 years and thereafter in equal annual Installments over a period of 20 years. 31 States/UTs have been covered under the scheme and Rs. 3067.50 Crore has been released to 1227 Government ITIs throughout the country during the XI Plan period.