Is the quality of IITs questionable?

Human Resource Development Minister Murli Manohar Joshi on Thursday questioned the quality of IITs, saying that large-scale spending on the nation's premier technology schools was not paying back enough dividends.

Do you agree?

Other links:
Column: Dr Joshi, IIMs and IITs
IITs: The pride of India
IIT is an incredible institution: Bill Gates
IITs: Indian Institutes in Trouble