Hey guys check this link:-

http://en.wikipedia.org/wiki/NIT_Bill

Now what i feel is that nit act has been passed in 2007 and you can see that iit act was passed in 1961 so you can imagine that in next 5 years what will be the image of nit's .. what i mean is that if sufficient amount of time is given to nit's l then they have the caliber to become equal to iit's.