Last Updated Jun - 26 - 2024, 05:01 PM | Source : Business Standard | Visitors : 31
The Union Budget 2024 under the NDA government led by BJP is set to prioritize education, building on past increases. With a focus on digitization and skill dev
The National Democratic Alliance (NDA) government, which is led by the Bharatiya Janata Party (BJP), has gradually raised the budget for education over time, putting a focus on digitization and skill development. The Union Budget for 2024 will be presented in its entirety by Finance Minister Nirmala Sitharaman in July, which would be her seventh straight budget presentation.
The Ministry of Education was given the largest-ever allocation of Rs 1,12,898.97 crore in 2023, just for the education sector. The previous year, the government's budgetary allotment for education surpassed the one trillion rupee threshold for the first time.
This year, scrutiny over irregularities in the National Eligibility-cum-Entrance Test (Undergraduate) has intensified the spotlight on the National Testing Agency (NTA), especially in light of the new government’s formation. Central to this discussion is whether the Modi 3.0 administration will tackle the NEET controversy in the upcoming Union Budget, or prioritise other facets of the education sector while the dispute continues to simmer.
Here are the highlights for the last five Budget announcements in the education sector
In the Interim Budget, Sitharaman highlighted several achievements and future plans, including the establishment of more medical universities.
The Skill India Mission, a flagship programme, has trained 14 million youth, upskilled and reskilled 540,000 individuals, and established 3,000 new Industrial Training Institutes (ITIs). The Interim Budget also included the setup of various institutes for higher education:
The Ministry of Education’s allocation of Rs 1,12,899 crore reflected a 13 per cent increase, accounting for 2.9 per cent of the central government’s overall estimated expenditure for FY24. Key highlights include:
The 2022 education budget saw a substantial increase to Rs 1.04 trillion, marking an 18.5 per cent rise over the revised expenditure in 202122, constituting 3 per cent of the central government’s overall estimated expenditure for FY23. Key focuses included:
Aligning with the National Education Policy (NEP) 2020, the 2021 budget allocated Rs 93,224 crore to the education ministry, a 2.1 per cent increase over the previous year. This budget included:
In the 2020 budget, Sitharaman allocated Rs 99,300 crore for education and an additional Rs 3,000 crore for skill development, focusing on implementing the NEP 2020. Highlights included:
The upcoming full Union Budget 2024 is expected to continue this trend, further bolstering India’s education sector and addressing key areas of growth and development.
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