Education Budget 2024 Released: On February 1, 2024, Finance Minister Shrimati Nirmala Sitaraman announced the Interim Budget of India for Fiscal Year 2024-25 in the Indian Parliament. The release of the budget has brought relief to the faces of India’s education sector.
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According to the education budget for 2024, India’s education sector has grown by 6.8% over the previous year, with budget allocations for the Department of School Education and Literacy (DoSEl) increasing from 68,805 crores to 73,008.10 crores in the fiscal year 2024-25.
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The education budget also reserves Rs 47619.77 crores for the Department of Higher Education which will transform more than 390 colleges/institutes including 7 IITs, 16 IIITs, 7 IIMs, and 15 AIMS all across the country.
Continue reading the article to know more about the initiatives and objectives of the Indian education budget 2024.
Indian Education Budget 2024 Details
Check out the budget allocation for different schemes of the educational sector of India for fiscal year 2024-35 below in the table.
| Sl No. | Centrally Sponsored Schemes | 2024-25 (in Crores) |
|---|---|---|
| A | Schemes | |
| I) Centrally Sponsored Schemes | ||
| 1 | Samagra Shiksha | 37500 |
| 2 | PM Poshan | 12467 |
| 3 | NILP | 160.00 |
| 4 | STARS | 1250 |
| 5 | PM SHRI | 6050.00 |
| Total Centrally Sponsored Schemes | 57427 | |
| II) Central Sector Schemes | ||
| 6 | National Means Cum Merit Scholarship Scheme | 377 |
| 7 | Pradhan Mantri Innovative Learning Programme (DHRUV) | 0.01 |
| Total Central Sector Schemes | 377.01 | |
| Total Schemes | 57,804.01 | |
| B | Non-Schemes | |
| III) Other Central Sector Expenditure | ||
| 8 | Kendriya Vidyalaya Sangathan (KVS) | 9302.67 |
| 9 | Navodaya Vidyalaya Samiti (NVS) | 5800 |
| 10 | NCERT | 518.50 |
| 11 | National Bal Bhawan | 26.00 |
| Total Autonomous Bodies | 15638.67 | |
| IV) Establishment Expenditure | ||
| 12 | Secretariat | 55.02 |
| 13 | Directorate of Adult Education | 0.01 |
| Total – Establishment | 55.03 | |
| Total Non-Schemes | 15,693.7 | |
| Grand Total | 73,008.10 | |
As per the Indian education budget 2024, the government of India is planning to set up more medical colleges and institutions by utilising the existing hospital infrastructure under various departments and a committee for this will be set up to examine the issues and make relevant recommendations.
It is to be noted that this is an Interim budget and the full-fledged budget will be presented by the new governor who comes to power after the elections.
If you have any queries regarding the Indian education budget 2024-25, feel free to ask below in the comment section. We will respond to you as soon as possible.
FAQs
Ans. The Interim Indian education budget for the fiscal year 2024-25 is released on 1 February 2024.
Ans. Finance Minister Shrimati Nirmala Sitaraman announced the Interim Budget of India for Fiscal Year 2024-25 in the Indian Parliament.
Ans. As per the Indian education budget 2024, the education sector of India has increased by 6.8% this year.
Ans. The Department of Higher Education will transform more than 390 colleges/institutes including 7 IITs, 16 IIITs, 7 IIMs, and 15 AIMS all across the country under the education budget 2024.
Ans. The full-fledged budget will be presented by the new governor who comes to power after the elections in 2024.
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