The govt of India has set up 5 IISERs in Bhopal, Kolkata, Mohali, Pune and Thiruvananthapuram last year. They offer 5 year integrated MS program in basic science. The way IITs were established for technical education, I think IISER have been established for science.
http://www.iiser-admissions.
I think it's a very good step by govt.
Read this article: http://casi.ssc.upenn.edu/iit/Bhattacharya
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