The Budget of the year 2018-19 with the perspective of education
This year’s Budget is made to be education-oriented, as said by the Union Minister for Finance and Corporate Affairs, Arun Jaitley, while he expressed his concern over the quality of education. Education, according to him, will be treated in a holistic manner from pre-nursery to Class 12. The Finance Minister underlined the resolve to increase the digital intensity in Education as well as emphasized that a district wise strategy for improving the quality of education is being prepared.
This year’s budget will also focus on strengthening agriculture and rural economy, provision of good health care to economically less privileged, taking care of senior citizens, quality infrastructure creation and working with the States to provide more resources for improving the quality of education of the country.
The budget of this year for health, education and social protection is estimated to be Rs. 1.38 lakh crore, as compared to the 1.22 lakh crore in 2017-18.
Various types of programs, such as RISE (Revitalizing Infrastructure and Systems in Education), setting up of Ekalavya Model Residential Schools for tribal children all over the country, PMRF (Prime Minister’s Research Fellows), Institutes of Eminence, are introduced, along with some other positive and development-oriented changes in this year’s budget.
The allocation for education during 2018-19 is increased is increased by 6.68 per cent from last year to Rs. 85,000 crore. A major funding spike has been set aside for the Higher Education Funding Agency (HEFA), whereas the budget for the Indian Institutes of Technology is cut down at a slight level, while keeping it the same for the Indian Institutes of Management. The allocation for scholarships for college and university students was increased by Rs. 20 crore to Rs. 340 crore.