On Saturday, Finance Minister Nirmala Sitharaman presented the Union Budget 2020-21 in the Lok Sabha.
Nirmala Sitharaman announced an allocation of Rs 99,300 crore for the education sector and Rs 3000 crore for skill development in her 2020-2021 Union Budget speech.
In 2019-20, the union budget had allocated Rs. 94,853.64 crore for education that caters to around 300 million students in 1.4 million schools and over 51,000 colleges.
By 2030, India will have the largest working-age population and the government will work to provide the required skills for them to get into jobs, said Nirmala Sitharaman.
The FM also mentioned that there’s a global demand for teachers, medical and para-medical staff and therefore India will start a bridge program to tap resources and fill the employment gap.
She said the government would introduce foreign direct investment (FDI) in the education sector.
Centre would announce a new education policy soon, said Sitharaman.
The centre aims to give a degree-level full-fledged online education programme by institutes ranked in the top 100 by the National Institutional Ranking Framework.
To bring foreign students to Indian campuses, the Finance Minister proposed to start an Indo-SAT exam under a ‘Study in India’ scheme, to enable evaluation and study of students from Asia and Africa who seek admission here.
The government has also proposed to attach medical colleges with district hospitals on the PPP model to deal with the shortage of doctors, she added.