Its amazing how easy we find it to lament the limited number of seats in the IITs and then turn around and critizie the government for creating more IITs. The quality of the human capital dictates the quality of a nation's growth. Already our national spending in the education sector is less than 2% (comapred to 12-15% of the southeast asian countries).
We need more IITs, more IIMs, more schools and colleges of international repute. Not less of them.