The 2024-25 fiscal year promises to be a landmark period for education in India, with the Interim Budget, unveiled by Finance Minister Nirmala Sitharaman, demonstrating the government’s commitment to nurturing the nation’s educational foundations. A significant increase in budget allocations for the Department of School Education and Literacy (DoSEL) and the Higher Education Department underscores a strategic push towards improving the quality and accessibility of education across the country.
The Department of School Education and Literacy (DoSEL) has been granted an impressive allocation of ₹73,008.10 crore for the 2024-25 fiscal year, marking a robust increase of ₹4,203.25 crore over the previous year’s budget. This upward revision signals the government’s intent to strengthen the school education infrastructure and enhance learning outcomes for millions of students across the nation.
Equally noteworthy is the increment in the budget for the Higher Education Department, set at ₹47,619.77 crore for the coming fiscal year. This allocation represents a substantial rise from the ₹44,094.62 crore earmarked for the current financial year, highlighting the government’s focus on elevating the standards of higher education and fostering an environment conducive to research and innovation.
The cumulative budget for the Education Ministry now stands at ₹1,20,627.87 crore, indicating a significant increase from the previous year’s allocation of ₹1,12,898.97 crore. This growth in funding is poised to catalyze the transformation of the educational sector, making it more dynamic and responsive to the needs of the 21st-century learner.
Delving deeper into the specifics, the PM Schools for Rising India (PM SHRI) initiative has been a notable beneficiary, receiving ₹6,050 crore for the 2024-25 fiscal year. This increase from the previous year’s allocation underscores the government’s ambition to redefine the contours of school education in India, with PM SHRI schools set to become the exemplars of excellence in teaching and learning.
The budgetary enhancements extend to the Kendriya Vidyalaya Sangathan (KVS) and Navodaya Vidyalaya Samiti (NVS), with allocations of ₹9,302.67 crore and ₹5,800 crore, respectively. These institutions are crucial to the government’s vision of providing high-quality education to children from all sections of society, regardless of their geographical or economic backgrounds.
However, the National Council of Educational Research and Training (NCERT) saw a slight reduction in its budget, receiving ₹510 crore compared to ₹518.50 crore in the previous fiscal year. Despite this, the NCERT continues to play a pivotal role in shaping the educational curriculum and ensuring the dissemination of standardized learning materials across the country.
The Samagra Shiksha scheme, the cornerstone of the country’s school education system, has been allocated ₹37,500 crore, maintaining its critical role in providing holistic education to students from the primary to the secondary levels.
This year’s budget also shines a light on the Pradhan Mantri Poshan Shakti Nirman (PM POSHAN) scheme, which has seen its budget increase to ₹12,467.39 crore. This initiative is vital for ensuring that students receive the nutrition they need to stay healthy and focused on their studies, reinforcing the government’s commitment to nurturing both the minds and bodies of India’s future generations.
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In conclusion, the Education Budget of 2024-25 is a testament to the government’s unwavering dedication to elevating the educational landscape of India. By channeling resources into both school and higher education, the budget lays a solid foundation for a brighter, more educated future, ensuring that every student has the opportunity to thrive and contribute to the nation’s progress.
The percentage of the budget allocated to education can vary significantly by country and region. It typically depends on government priorities and economic conditions. In some countries, education may receive a substantial portion of the budget, while in others, it may be a smaller percentage.
Whether there will be a budget in 2024 depends on the specific country and its fiscal calendar. Most countries prepare annual budgets, so there will likely be a budget for the fiscal year 2024.
The allocation of financial resources to education refers to the amount of funding dedicated to educational programs, infrastructure, and initiatives within a given budget. This allocation varies from country to country and may change each fiscal year.
The specific budget allocation for education varies widely and depends on the country’s overall budget size, government priorities, and educational needs. Each year, governments determine the budget allocated to education based on these factors.
The budget share allocated to education is the portion of the overall budget dedicated to educational expenses. This share can fluctuate and is influenced by factors such as government policies, economic conditions, and the educational needs of the population.
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