Budget 2011 - 24% Hike In Education Sector

Observing that education is the key to reaping the benefits of the demographic dividend in the form of a young population, Finance Minister Pranab Mukherjee Monday announced a 24 percent hike in the budget allocation for education. Budget for 2011-12 was presented by finance minister Pranab Mukherjee in Parliament on Monday. According to the new budget, Pranab Mukherjee has allocated Rs.52,057 crore, an increase of 24 percent over the current year in the budget as presented in the Lok Sabha. According to him, over 70 percent of India will be of working age by 2025. Universalizing access to secondary education, increasing percentage of our scholars in higher education and providing skills training should be necessary as mentioned by him.

HIGHLIGHTS OF THE BUDGET 2011 - EDUCATION SECTOR

• "The operational norms of Sarva Shiksha Abhiyan have been revised to implement the right of children to free and compulsory education which came into force from April 1, 2010. For the year 2011-12, I propose to allocate Rs.21,000 crore, which is 40 percent higher than Rs.15,000 crore allocated in Budget 2010-11," as quoted by Pranab Mukherjee.

• The allocation for Right to Education has been hiked by 40 percent.

• Introduction of scholarship scheme for needy students belonging to Scheduled Castes and Scheduled Tribes studying in class 9th and 10th which would benefit about 40 lakh students.

• Proposal of National Knowledge Network, which aims at connecting 1,500 institutes of higher learning and research across the country will connect 190 institutes by March this year while the rest will be brought into the network by March 2012.

• National Skill Development Council (NSDC) is well on course to achieve its mandate of creating 15 crore skilled workforce two years ahead of 2022, the stipulated target year.

• Sanction 26 projects with a total funding of Rs.658 crore. These projects alone are expected to create more than four crore skilled workforce over the next ten years.

• Grants of Rs.50 crore each for Aligarh Muslim University's upcoming campuses at Murshidabad in West Bengal and Malappuram in Kerala and Rs.100 crore as a one-time grant to Kerala Veterinary Animal Science University.

• Rs.10 crore each was allocated for setting up the Kolkata and Allahabad centers of the Wardha-based Mahatma Gandhi Antarrashtriya Hindi Vishwavidyalaya.

• The Indian Institute of Technology, Kharagpur will get Rs.200 crore as a one-time grant.

• Sanction Rs.20 crore to the Indian Institute of Management, Kolkata for setting up a financial research and training laboratory and Rs.200 crore for the Maulana Azad Education Foundation.

• The Delhi School of Economics and Madras School of Economics have also been allotted Rs.10 crore each.