Budget 2019 likely to boost India’s education sector

header scientia1

India’s Annual Budget decides the way ahead for different sectors in the country. In this year’s Budget, the Government has emphasised on education along with other sectors. How the Budget 2019-20 will pave way for improvement in education sector, observes Akhil Shahani, Managing Director, The Shahani Group, for Elets News Network (ENN).
The acting Finance Minister, Piyush Goyal said that India is among the youngest nations in the world and the Government is proud of its youth. The problems of India’s education sector are well known, so how effectively has he addressed this major issue for India’s youth in the 2019 interim budget?
Overall funding for school and higher education has gone up by 10 percent to Rs 93,847.64 crore. However, this could be considered insufficient considering India’s inflation rate of 6-7 percent. The newly constituted Higher Education Funding Agency (HEFA) will receive 24 percent less funding for the coming year. Considering that IIT’s, IIM’s and other central universities have been asked to get loans from HEFA instead of depending on Government grants, this reduced funding could limit their efforts to expand or improve quality.
Goyal said in his Budget speech, “The poor have the first right on the resources of the nation. The Government while maintaining the existing reservation for SC/ST/Other Backward Classes, have now ensured 10 percent reservation in educational institutions and Government services for poor. In these institutions,Education-Budget-2019

About The Author

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

scientia main