The success of technology-based industry led to high demand for technical and scientific education. During the Premiership of Atal Bihari Vajpayee, the then Minister of Human Resource Development, Murli Manohar Joshi decided to upgrade all "Regional Engineering Colleges" to "National Institutes of Technology" that shall be funded by the Central Government itself. Hence, in 2002, all REC's became NIT's and MACT became Maulana Azad National Institute of Technology (MANIT). In the same year, MANIT was granted deemed university status. With this advancement, the World Bank assisted "Technical Education Quality Improvement Program" started in 2003, for the rapid academic and infrastructural growth of the college. In addition to engineering programs, an MBA program as well commenced from 2006. The Government of India in 2007 passed the NIT Act as per which MANIT was declared an Institute of National Importance.