FM Sitharaman announces Rs 99,300 cr allocation for education in Budget 2020

India Budget 2020 has laid great emphasis on the education sector with Nirmala Sitharaman proposing that a total of 150 higher education institutes will have apprenticeship programmes by March 2021. Reading out the budget 2020 speech, Nirmala Sitharaman said there have been dialogues with states about the National Education Policy which will be announced soon.

New Delhi: Finance Minister Nirmala Sitharaman on Saturday (February 1, 2020) proposed an allocation of Rs 99,300 crore for education in Union Budget 2020-21, saying the government will work to promote 'Study in India'. Foreign Direct Investment (FDI) and External Commercial Borrowings (ECB) will be the way forward in the education sector, announced the finance minister. The move will make Indian students ready for the challenges of the future.

Reading out the budget speech, Nirmala Sitharaman said there have been dialogues with states about the National Education Policy which will be announced soon. She said "education sector needs greater finance to attract good teachers", adding ECBs and FDI will be looked for the education sector. The move is aimed at wooing top foreign universities and educational institutions to invest in India and help in nurturing top-class institutions.

While stating that the Budget had been woven around aspirational India, economic development and caring society, the Finance Minister announced 16 action points for doubling farmers` income by 2022. Among the measures to achieve the ambitious target, she raised the allocation for agriculture, allied activities and rural development sector to Rs 2.83 lakh crore in FY21.

Making a significant announcement, the finance minister said, "A total of 150 higher education institutes will have apprenticeship programmes by March 2021." She went on to add, "Urban local bodies will provide fresh engineers job opportunity for one year. This will help engineers learn on the job."

She said, "Degrees can be taken online soon and will be offered by the top 100 NIRF ranked institutes," adding "INDSAT exam will be held in Asian and African for scholarships to study in India. Police Academy and Forensic Sciences will be set up." 

Further, she said, "There is a huge demand for teachers, nurses, paramedical staff and caregivers abroad. However, their skill-sets do not match standards, therefore, it needs to be improved".

Notably, this is Nirmala Sitharaman's second budget presentation in the Lok Sabha. The first one was tabled in 2019.