The Union Budget 2023-2024 was presented to the parliament on February 1 by Finance Minister Nirmala Sitharaman. According to budget records, the Ministry of Education will get a staggering ₹1,12,898.97 crore from the centre for the upcoming fiscal year. Notably, this is the largest budgetary allocation ever given to the ministry. The expenditure for the department of School Education is ₹68,804,85 crore, while the expenditure for the department of Higher Education is ₹44,094.62 crore.The expenditure budget for the fiscal year 2022-2023 allotted ₹1,04,277.72 crore to the Ministry of Education. According to the updated figures, the Higher Education Department received ₹40828.35. According to the updated forecasts for 2022-2023, the School Education Department received ₹59052.78.
Opinions of eminent educationists
“The union budget is constructively focused on building a knowledge-driven economy, with the aim of strengthening the backward and underprivileged sectors of society, which is commendable. In alignment with the NEP, the government’s focus on building a digital library and pushing for device-agnostic digital learning methodology, while also facilitating upskilling of teachers, are all powerful steps in the direction of tech-enabled learning processes. Further, with an aim to add more teachers and support personnel for the Eklavya model residential schools for tribal students, with access to world-class quality education, would also give children access to high-quality literature, boosting their learning experience and propelling our country forward. Apart from the focus on empowering education, the revamped credit guarantee scheme for MSMEs through the infusion of Rs 9,000 crore in the corpus, will further enable education tech start-ups and MSMEs, working towards building innovative solutions in the sector. Overall, the budget is a constructive step forward to making India a knowledge-driven global economy.”– Mr. Pankaj Agarwal, Founder & CEO of Taghive.
“My thoughts on the budget , The Union Budget has laid out a long- term path of growth and investment which dropped dramatically during the pandemic. The Budget is visionary and long-term in nature, with digitization, urban growth, and sustainability at its center. With the Pradhan Mantri Awaas Yojana allocation increasing 66% to Rs 79,000crore next fiscal year, more than 55% of the expected financial deficit for projects under the plan is covered, which should aid in the timely building of both urban and rural housing. For the education sector, the national digital library will provide youngsters to enhance their learning experience and move our country ahead. More instructors and support workers for Eklavya model schools would be immensely advantageous to tribal children, allowing them to access world-class quality education, especially in remote rural areas. Overall, the budget is well-structured and well-focused, with the goal of propelling us to become a leading economy in the future.“-Mr. Agnelorajesh Athaide, Chairman of Global St. Angelo’s Group of Companies