NEW DELHI: Finance Minister Nirmala Sitharaman introduced the Interim Budget 2024-25 as we speak. The price range outlined the authorities’s agenda for the remaining time period. During her price range speech in Parliament, FM Sitharaman emphasised on the development of upper academic establishments, the rise in the variety of ladies enrolling in STEM programs over the previous decade and the National Education Policy (NEP) 2020 driving vital transformative modifications.Additionally, her speech additionally indicated that the authorities is planning to ascertain extra medical schools. Let’s shed some mild on what Sitharaman stated about the Modi authorities’s future roadmap for the training sector and what all has been completed to date on this phase.
Union Interim Budget 2024: Promises for the Education Sector
â–º Efforts are on to make India a Viksit Bharat by 2047.
â–º More medical schools to be arrange quickly. “Our government plans to set up more medical colleges by utilizing the existing hospital infrastructure. A committee for this purpose would be set up to examine the issues and make relevant recommendations,” stated the Finance Minister.
â–º Tech-savvy youth can anticipate a golden period. “A corpus of Rs 1 lakh crore will probably be established with a 50-year interest-free mortgage offered. It will probably be for long-term financing or re-financing with low or nil rates of interest,” said Sitharaman.
â–º Strategy for Amrit Kaal – “Our authorities will undertake financial insurance policies which is able to foster and maintain development, facilitate inclusive and sustainable improvement, enhance productiveness, create alternatives for all and assist them improve their capabilities and contribute to technology of assets to energy investments and fulfill aspirations,” she said.
Union Budget 2024-25: The Education Scenario So Far
In her Interim Budget 2024-25 speech, Sitharaman talked about the achievements witnessed in the education sector so far. Here are the points she highlighted.
â–º Empowering the youth is a must. Fund of Funds, Startup India and Startup Credit Guarantee Schemes are assisting our youth.
â–º PM SHRI schools are delivering quality teaching and nurturing holistic and well rounded individuals.
â–º The Skill India Mission has trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3000 new ITIs.
â–º The present government has set up 7 new IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 new universities have been set up.
â–º The National Education Policy 2020 is ushering is delivering quality teaching and nurturing, holistic and well rounded individuals scaling their mission to one point.
â–º Female enrollment in higher education has gone up by 28 per cent in 10 years. In STEM courses, girls and women make 43 per cent of enrollment, one of the highest in the world.
A look back at the Education Budget 2023
In the fiscal year 2023 budget, the Ministry of Education secured a significant allocation of Rs 1,12,899 crore, reflecting a substantial increase of 13 percent. This amounted to 2.9 percent of the central government’s total estimated expenditure for the financial year 2024. The primary beneficiary of these funds was the Samagra Shiksha Abhiyaan, which received Rs 37,453 crore, closely followed by autonomous bodies. Here is an overview of the major initiatives:
Union Interim Budget 2024: Promises for the Education Sector
â–º Efforts are on to make India a Viksit Bharat by 2047.
â–º More medical schools to be arrange quickly. “Our government plans to set up more medical colleges by utilizing the existing hospital infrastructure. A committee for this purpose would be set up to examine the issues and make relevant recommendations,” stated the Finance Minister.
â–º Tech-savvy youth can anticipate a golden period. “A corpus of Rs 1 lakh crore will probably be established with a 50-year interest-free mortgage offered. It will probably be for long-term financing or re-financing with low or nil rates of interest,” said Sitharaman.
â–º Strategy for Amrit Kaal – “Our authorities will undertake financial insurance policies which is able to foster and maintain development, facilitate inclusive and sustainable improvement, enhance productiveness, create alternatives for all and assist them improve their capabilities and contribute to technology of assets to energy investments and fulfill aspirations,” she said.
Union Budget 2024-25: The Education Scenario So Far
In her Interim Budget 2024-25 speech, Sitharaman talked about the achievements witnessed in the education sector so far. Here are the points she highlighted.
â–º Empowering the youth is a must. Fund of Funds, Startup India and Startup Credit Guarantee Schemes are assisting our youth.
â–º PM SHRI schools are delivering quality teaching and nurturing holistic and well rounded individuals.
â–º The Skill India Mission has trained 1.4 crore youth, upskilled and re-skilled 54 lakh youth, and established 3000 new ITIs.
â–º The present government has set up 7 new IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 new universities have been set up.
â–º The National Education Policy 2020 is ushering is delivering quality teaching and nurturing, holistic and well rounded individuals scaling their mission to one point.
â–º Female enrollment in higher education has gone up by 28 per cent in 10 years. In STEM courses, girls and women make 43 per cent of enrollment, one of the highest in the world.
A look back at the Education Budget 2023
In the fiscal year 2023 budget, the Ministry of Education secured a significant allocation of Rs 1,12,899 crore, reflecting a substantial increase of 13 percent. This amounted to 2.9 percent of the central government’s total estimated expenditure for the financial year 2024. The primary beneficiary of these funds was the Samagra Shiksha Abhiyaan, which received Rs 37,453 crore, closely followed by autonomous bodies. Here is an overview of the major initiatives:
- School Education obtained Rs 68,805 crore, indicating a major improve of 16.5 % in comparison with the revised expectations for FY23.
- Higher Education was allotted Rs 44,095 crore, marking an eight % improve from the revised expectations for FY23.
- The price range additionally highlighted key initiatives reminiscent of the concentrate on Ekalavya Schools’ recruitment, the introduction of analysis packages, and the institution of recent analysis facilities.
- Additional enhancements had been launched by way of the revision of the apprenticeship scheme and the institution of 157 new nursing schools.
