New Delhi: Finance Minister Nirmala Sitharaman Interim Budget 2024-25 presented today. The budget outlined the government’s agenda for the remaining term. During her budget speech in Parliament, FM Sitharaman stressed on the development of higher educational institutions, the increase in the number of women enrolling in STEM courses over the past decade and the important transformational changes the National Education Policy (NEP) 2020 has brought. The speech also indicated that the government was planning to set up more medical colleges. Let’s throw some light on what Sitharaman said about the Modi government’s future roadmap for the education sector and what has been achieved in the sector so far.
Milan interim budget 2024:Promises for the education sector
►Efforts are on to make India a developed India by 2047.
► More medical colleges will be established soon. “Our government is planning to set up more medical colleges using the existing hospital infrastructure. A committee will be constituted for this purpose to examine the issues and make relevant recommendations,” the Finance Minister said.
► Tech-savvy youth can look forward to a golden era. “A fund of Rs 1 lakh crore will be set up with 50-year interest-free loans. This will be for long-term financing or refinancing with low or zero interest rates,” Sitharaman said.
► Strategy for the Amrit Era – “Our Government will pursue economic policies that promote and sustain growth, facilitate inclusive and sustainable growth, improve productivity, create opportunities for all and help enhance their capabilities. “And will contribute to the generation of resources to promote investment and fulfill aspirations,” she said.
Union Budget 2024-25: Education outlook so far
In her interim Budget 2024-25 speech, Sitharaman talked about the achievements seen so far in the education sector. Here are the points he highlighted.
►It is important to empower the youth. Fund of Funds, Startup India and Startup Credit Guarantee Schemes are helping our youth.
► PM Shree Schools are imparting quality education and nurturing holistic and well-rounded individuals.
► Skill India Mission has trained 1.4 crore youth, upgraded and re-skilled 54 lakh youth and established 3000 new ITIs.
► The present government has established 7 new IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 new universities.
► National Education Policy 2020 is providing quality teaching and nurturing, raising holistic and well developed individuals to a point their mission.
► Female enrollment in higher education has increased by 28 percent in 10 years. Enrollment of girls and women in STEM courses is 43 percent, one of the highest in the world.
A look at education budget 2023
In the Budget for FY 2023, the Education Ministry secured a significant allocation of Rs 1,12,899 crore, marking a substantial increase of 13 per cent. This was 2.9 percent of the total estimated expenditure of the central government for the financial year 2024. The primary beneficiary of these funds was the Samagra Shiksha Abhiyan, which received Rs 37,453 crore, followed by autonomous bodies. Here is an overview of the key initiatives:
Milan interim budget 2024:Promises for the education sector
►Efforts are on to make India a developed India by 2047.
► More medical colleges will be established soon. “Our government is planning to set up more medical colleges using the existing hospital infrastructure. A committee will be constituted for this purpose to examine the issues and make relevant recommendations,” the Finance Minister said.
► Tech-savvy youth can look forward to a golden era. “A fund of Rs 1 lakh crore will be set up with 50-year interest-free loans. This will be for long-term financing or refinancing with low or zero interest rates,” Sitharaman said.
► Strategy for the Amrit Era – “Our Government will pursue economic policies that promote and sustain growth, facilitate inclusive and sustainable growth, improve productivity, create opportunities for all and help enhance their capabilities. “And will contribute to the generation of resources to promote investment and fulfill aspirations,” she said.
Union Budget 2024-25: Education outlook so far
In her interim Budget 2024-25 speech, Sitharaman talked about the achievements seen so far in the education sector. Here are the points he highlighted.
►It is important to empower the youth. Fund of Funds, Startup India and Startup Credit Guarantee Schemes are helping our youth.
► PM Shree Schools are imparting quality education and nurturing holistic and well-rounded individuals.
► Skill India Mission has trained 1.4 crore youth, upgraded and re-skilled 54 lakh youth and established 3000 new ITIs.
► The present government has established 7 new IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 new universities.
► National Education Policy 2020 is providing quality teaching and nurturing, raising holistic and well developed individuals to a point their mission.
► Female enrollment in higher education has increased by 28 percent in 10 years. Enrollment of girls and women in STEM courses is 43 percent, one of the highest in the world.
A look at education budget 2023
In the Budget for FY 2023, the Education Ministry secured a significant allocation of Rs 1,12,899 crore, marking a substantial increase of 13 per cent. This was 2.9 percent of the total estimated expenditure of the central government for the financial year 2024. The primary beneficiary of these funds was the Samagra Shiksha Abhiyan, which received Rs 37,453 crore, followed by autonomous bodies. Here is an overview of the key initiatives:
- School education received Rs 68,805 crore, showing a significant increase of 16.5 per cent over the revised expectations for FY2013.
- Higher education was allocated Rs 44,095 crore, an increase of eight per cent over the revised expectations for FY2013.
- The budget also highlighted key initiatives such as focussing on recruitment to Eklavya Vidyalayas, launching of research programs and setting up of new research centres.
- Additional enhancements were introduced through the modification of the apprenticeship scheme and the establishment of 157 new nursing colleges.