Human Resource Development Minister Arjun Singh [Images] on Wednesday said the government would not set up any new branches of either Indian Institute of Management or the Indian Institute of Technology.

"The government cannot afford to set up any new IIMs, apart from the sanctioned one in Shillong," Singh said at a conference. The foundation for the Shillong IIM will be laid next month.

Singh said the IIMs needed to increase their intake of students. "Those IIMs that have an additional corpus of funds can set up more centres in the country to facilitate more students to avail of the education," he felt.

About the elite B-schools' global expansion plans, he said IIMs could be allowed to open campuses abroad after making amendments to their memoranda of association.

"If such an MoA allows opening branches outside the country, we will not come in their way. If it does not, then first have it amended and make an effort," he said.

Singh said he was not averse to foreign universities operating in India, provided they abided by the conditions laid down by the government in the foreign universities' bill.

"We are not against these universities coming to the country. They will have to function within the framework. In the next session of Parliament, the foreign universities bill should be passed," he said.

To allow greater funding for higher education, the HRD ministry had made a presentation to the Planning Commission seeking more resources.