Union Finance Finance Minister, Nirmala Sitharaman presented the budget of government in the Lok Sabha yesterday. The budget has given a major push to the education sector of the country. The total Budget allocation for the HRD Ministry increased from Rs. 85,010 Crore in 2018-19 to Rs. 94,853.64 Crore in 2019-20. So this kitty, ,this what higher education (HE) sector bagged:
For higher education
The total budget allocation in the BE 2019-20 for higher education is Rs. 38,317 Cr, which is a 9.4% increase compared to allocation of Rs.35, 010 Cr for this sector in BE 2018-19.
Apart from this, Government has made available Rs.15,000 Cr through extra-budgetary resources using the Higher Education Financing Agency (HEFA) mechanism. Not only this, the government has provided an additional equity of Rs 2,100 Cr to HEFA. This is done to mobilise the required funds for building high quality infrastructure in higher educational institutions.
Overall fund availability for HE
The overall fund availability for the Higher Education Sector for 2019-20 is therefore Rs. 53,317 Cr (Rs. 38,317 Cr + Rs. 15,000 Cr through HEFA) in the year 2019-20 this in turn leads in increment of funds substantially.
The following are the major features of the budget allocation for the higher education sector:
|Name of the Scheme/Autonomous Body||RE 2018-19||BE 2019-20||Growth in r/o RE|
|Support to IITs||5714.70||6409.95||12.17%|
|National Education Mission: Rashtriya Uchhatar Shiksha Abhiyan (RUSA)||1500.00||2100.00||40%|
|Scheme for transformational and advanced research in Sciences (STARS)||5.00||50.00||900%|
|Scheme for Promotion of Academic and Research Collaboration(SPARC)||30.00||130.00||333%|
|Impactful Policy Research in Social Science (IMPRESS)||25.00||75.00||200%|
|Implementation of the IMPRINT Research Initiative (IMPacting Research INnovation & Technology)||50.00||80.00||60%|
|Study in India||50.00||65.00||30%|
|National Mission in Education through ICT||150.00||170.00||13%|
|World Class institutions||128.90||400.00||210%|
Through the released budget in can be seen that all research schemes have got a major increase in allocations.
Comparison from last year
The IITs have been allocated Rs. 6409.95 Cr which is an increase of 12% over the last year. There has been a major increase in flagship programmes such as RUSA where budget allocation has been increased by 40% from Rs.1500 Cr to Rs.2,100 Cr. Central Universities have been provided Rs. 6,864.40 Cr. UGC has been allocated another Rs.4950.66 Cr. Unnat Bharat Abhiyan, under which 10,000 villages have been adopted by Higher Educational Institutions, has got 32% increase in budget allocation, reiterating faith of Govt in linking educational institutions with Society.
(This information is taken from PIB)