The education sector will most likely see a 10-12% rise in the budget allocation 2017. According to officials, the increment in this year’s grant will be doubled. Higher education in India needs a lot of financial assistance. With government starting national level institutes like IITs and AIIMS, grants are needed to establish state-of-the-art infrastructure for these institutes.
With an aim to get the Indian institutes and universities listed among the top universities in the world, the government will have to increase merit-based scholarships, research scholarships and fellowships. A huge amount of fund is required to boost R&D and motivate students to enroll in research programmes.
Here’s what you can expect from education budget 2017:
- Major portions of the investment will be allocated for the Sarva Shiksha Abhiyan (SSA) and the midday school meal scheme for enhancing the quality of results in schools.
- Government schools will also be prioritized by the government under the education budget 2017. Quality of education will be focused in these schools to enhance India’s long-term competitiveness.
- Improving the quality of education at elementary schools is the main objective of the government as it is an essential stage of education.
- Funds will also be granted for the assessment of learning. The HRD ministry will be analyzing the academic progress of various schools and colleges. CBSE and NCERT will be asked to closely monitor the learning outcomes in schools.
- Special allocations will also be reserved for Prime Minister’s Research Fellowship, Research and Development, higher education financing agency (HEFA) and ‘world class’ university plan.
- Allocations will also be done for establishing 20 world class universities. Grants will also be reserved for providing affordable loans and setting up the infrastructure for institutes of national importance.
12% increase in the education grant will help the government to kick-start a lot of higher education initiatives that had been halted due to lack of funds. However, officials have informed that a major part of this budget will be released for improving the quality of education in schools.