Budget 2020: Education sector gets 99,300 crores, know how much benefit to IIT

Know – how many crores have been received in the education sector in the budget 2020. Know – how many crore rupees the IIT has received.

Education sector gets Rs 99,300 crore in Budget 2020Prime Minister new education scheme for skill development
This time in the budget of higher education has increased by more than 1100 crore last year. The total allocation for the Indian Institutes of Technology, ie IIT, has been kept at Rs 7,332 crore in the Union Budget, which is 14.38 percent higher than the previous year.

There is a provision of 99,300 crore rupees for education in the Union Budget. Of this, the total allocation of higher education is Rs 39466.52 crore. There is an increase of Rs 1149.51 crore as compared to Rs 38317.01 crore in the previous year.

Human Resource Development Minister Ramesh Pokhriyal ‘Nishank’ said that the total allocation for central universities has been kept at Rs 8657.90 crore this time in the Union Budget, which is 12.39 percent higher than the previous year. At the same time, the total allocation for National Technical Institutes (NITs) has been kept at Rs 3885 crore, which is 2.58 percent more than last year.
The total allocation for higher education regulators UGC and AICTE has been kept at Rs 5109.20 crore. A new scheme called Quality Upgradation and Inclusion Program of Higher Education is envisaged. An initial budgetary provision of Rs 1413 crore has been made for this scheme.
The additional government equity of Rs 2200 crore will help in meeting their budgetary need for improvement and expansion of basic infrastructures like classrooms, hostels, laboratories and equipment.

A provision of Rs 650 crore has been made for World Bank assisted technical education quality improvement program. The objective of this project is to increase quality and equality in selected engineering institutions and improve the efficiency of engineering education system in the focus states.

The allocation for ‘Interest Subsidy and Contribution to Securities Fund’ has been kept at Rs 1900 crore. This is to disburse easy and interest-free loans to students who wish to pursue higher professional education. At the same time, there has been a total increase of Rs 3308.37 crore (5.85 percent) in the budget allocation of School Education and Literacy Department. The budget allocation (Rs. 2428.50 crore) increased in the overall education of the flagship scheme for upgradation of school education.
A new scheme to encourage talented children for their skills and to enrich and encourage knowledge has been envisaged from the Pradhan Mantri Navin Shiksha Program (DHRUV) from FY 2020-21. There has been an increase of Rs 504.50 crore in KVS allocation and an increase of Rs 232 crore in NVS allocation B.E. Compared to 2019-20.
A streamlined online education program of degree level will be started with the objective of providing quality education to students from disadvantaged sections of the society as well as students with higher educational access. However, such courses will be available only in institutions which are in the top 100 ranks in the National Institution Ranking Program.
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