Education Budget 2024: The last budget of the current tenure of the Central Government was presented by Union Finance Minister Nirmala Sitharaman in the Lok Sabha on Thursday, 1 February 2024. In his budget speech, the Finance Minister described youth as one of the four priority areas of the government and presented information about the work being done in education, employment and skill development on the lower table of the House.
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The Finance Minister said that in the last 10 years, the government’s expenditure on education has increased every year and for the year 2023-24, the highest ever allocation of Rs 1,12,898.97 crore was made to the Union Education Ministry. The Finance Minister also informed that with the implementation of the National Education Policy (NEP) 2020, transformative reforms are being made in education.
Also giving information about the work done for skill development of capable youth, the Finance Minister said that 3000 new ITIs were established by the government. Also, a large number of new institutions for higher education including 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 universities have been established.
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After the Finance Minister’s Budget 2024 speech, be it universities, schools or edutech companies, various stakeholders engaged in education and skill development welcomed this budget.
Dr. Dhruv Galgotia, CEO, Galgotias University, said, “We appreciate the government’s unwavering dedication towards youth empowerment and education reforms, exemplified by the National Education Policy 2020. “The increase in enrollment of girl students in higher education by 28% in higher education and 43% in STEM courses in the last decade also highlights the importance of creating an inclusive and diverse educational landscape.”
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Dr. Maithili Tambe, CEO, The Academy School (TAS), Pune, says, “With the Skill India Mission, which has successfully trained 1.4 crore youth, the government recognized the importance of skill development in boosting economic growth and as a result has increased its financial commitment to this mission.”
