Studying and understanding the Union Budget can be a bit tricky sometimes. But don’t worry we have got you covered. This article explains everything about the Budget allocation for Education Sector in brief and simpler terms.
Union Finance Minister has allocated Rs. 1.12 lakh crores as the Union Budget expenditure for the Ministry of education in India. The government’s Pradhan Mantri Schools For Rising India (PM-SHRI) scheme, which will also upgrade over 14,500 schools nationwide to exemplary schools, has also been allocated 4,000 crores in the union budget 2023.
UNION BUDGET ALLOCATION FOR UNIVERSITIES IN INDIA
The distribution of funding to central universities in higher education has increased to ₹11,528.90 crore from the revised estimate of ₹11,034.32 crore last year. In contrast to last year, the financial support for Indian Institutes of Technology (IITs) has increased by 316.5 crores, but for Indian Institutes of Management (IIMs), it has declined by almost 300 crores.
NEW NURSING COLLEGES
157 new nursing colleges will be set up in the core locations of India. Set up of new ICMR labs: Indian Council for Medical Research Labs will be made accessible to both private as well as public medical colleges. The budget will be allotted for collaborative research initiatives for education in India.
NATIONAL DIGITAL LIBRARY
National Digital Library for children and adolescents will be set up for facilitating the availability of quality books. Quality books across geographies, languages, genres, and levels will be provided to students. States will be funded for setting up physical libraries to achieve various objectives in the field of education in India. Additionally, to build a culture of reading National Book Trust will set up to produce books in regional and English languages. The collaboration with NGOs will also be inclusive of this initiative.
SAMAGRA SHIKSHA ABHIYAN
The union budget for the government’s flagship program for universal education, Samagra Shiksha Abhiyan, is essentially the same as the previous year i.e, it is nearly ₹37,453.46 crore.
Samagra Shiksha is a Centrally Sponsored Scheme (CSS) for school education that covers pre-primary through upper-secondary classes. The program offers assistance with carrying out the provisions of the 2009 Right to Education Act (RTE Act). To guarantee that all students have access to high-quality education in a fair and inclusive environment, it has also been matched with the recommendations of the National Education Policy (NEP), 2020.
The allocation for the Higher Education Funding Agency (HEFA) is not mentioned in the union budget. HEFA provides higher education institutions with 10-year loans for infrastructure improvement.
SKILL INDIA INTERNATIONAL CENTRES
A total number of 30 skill India International Centres will be set up. That would encourage expansion in businesses and industry, thus leading to more jobs. Multi-disciplinary courses for medical devices will be introduced in the existing colleges to ensure skilled manpower. These initiatives will be taken into account in terms of futuristic technologies, high-end manufacturing, and research.
PM KAUSHAL VIKAS YOJANA 4.0
Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 is one of the initiatives in the Union Budget 2023 that is meant to encourage the creation of new jobs.
CENTRES FOR ARTIFICIAL INTELLIGENCE
To unleash the potential of our economy and realize the goal of “Make AI in India and Make AI Work for India,” the Center put out several initiatives in the Budget 2023, including the Centers for Excellence for Artificial Intelligence.
LOAN AND TRAINING FOR THE YOUNG POPULATION
Significant policy changes and new initiatives have been implemented by the government as part of the new National Education Policy (NEP), included in the budget. They include digitization, internationalization of higher education, and investment in skill development for education in India. The Union Budget of India 2023 mentions teachers’ training, and capacity-building programs for the first time. In addition to this, both public and private school education will transform with the construction of district training centers for educators. Teacher’s training will be re-envisioned through innovative pedagogy and continuous professional development.
PAN INDIA NATIONAL APPRENTICESHIP SCHEME
As part of the pan-India apprenticeship program, 47 lakh youth will receive direct benefit transfers. This is included in the budget for 2023.
