By - Feb 01, 2020
Feb 01, 2020
NEW DELHI: Presenting the 2020 Union Budget, Finance Minister Nirmala Sitharaman presented a degree-level, full-fledged online education programme by the country's top 100-ranking National Institutional Ranking Framework (NIRF) institutions to students belonging to deprived sections of the society and those who do not have access to higher studies.
Sitharaman further said that a new education policy will be announced, and the Government plans to provide about Rs 99,300 crore for the education sector in 2020-21, and about Rs 3,000 crore for skill development.
Emphasising that India should also be a preferred destination for higher education, Sitharaman said an IND-SAT exam is proposed in Asian and African countries for benchmarking foreign candidates who receive scholarships for studying in Indian higher education centres under a 'Study in India' programme.
Leaders from the education sector lauded the 60-year-old FM for this announcement. While some EdTech entrepreneurs felt that the Rs 99,300 crore allocation fell short of expectations, others are confident that the funding will make India the educational capital of the world.
Manjeet Singh, CEO, Buddy4study
"The Government has limited fiscal space to increase the education budget and Rs 99,300 cr will fall short of expectations. Hence, the Government needs to change the approach and attract more private investment in education. To ensure underprivileged students can study in these private institutions, the Government should increase allocations to scholarships from the education budget and transfer the same directly into the account of students or through education wallets.