What is in for Higher Education in the Union Budget
Government institutions get grants and allocation
Referring to the ‘Top 200 of the QS World University Rankings’ Finance Minister Nirmala Sitharaman in her budget speech today said that five years ago no Indian institutes could find a place in the rankings but now three institutes feature in the list. “The fact that three institutes feature in global rankings (QS) is due to the consistent efforts of the educational institutes. We want to boost those efforts and have proposed a three-fold increase in the funding for this purpose," she said.
An allocation of approximately Rs. 400 crore for the purpose of creating world-class higher education institutions were proposed by her in the budget of 2019 with a thought process that this funding will enable more number of Indian education institutions to be featured on international rankings.
Total allocation for Education proposed in the Budget 2019 is INR 94,853.64 crore (from INR 83,625.86 crore of last year) of which around INR 38,317.01 crore (rise from INR 33,512.011 crore) is for higher education while INR 56,536.63 CR (rise from INR 50,113.75 crore) is for school Education.
In sync with the Draft on National Education Policy which the MHRD has made available to public and are seeking recommendations (extended date now being July 31st) from academia and industry, the focus on research and infrastructure is also seen in the budget proposal.
The finance minister also said that the government will launch a 'Study in India' scheme to make India an attractive education destination for international students. The budget proposal is expected to give a lift to the estimated 50K foreign students who come to India for higher studies. India's school will be made future-ready with a deeper focus on research and new age skills such as robotics and AI, Sitharaman announced.
As per reports, in the past 4 years, 7 IITs and IIMs each along with 15 AIIMS, 1 NIT, 14 IIITs, and 4 NIDs have been set up or are in the process of being set up. However, most of them are yet to be functional and suffer from serious faculty shortage.