Education Budget 2023: Allocation to Higher Education increased by 8% from 2022-23, check details

Union Finance Minister announced the Budget 2023-24 today. Read further to know major allocation to education sector this year.

Union Finance Minister Nirmala Sitharaman today presented the Union Budget 2023-24. This is the NDA's last full-fledged Budget before the Lok Sabha elections early next year. The finance minister presented the budget digitally in Lok Sabha. She named it the “first Budget of Amrit Kaal and the blueprint for India @100”.

The Finance Minister announced an increase of the Higher education budget by INR 3,266.27 crore and the School education budget by INR 5,355.48 crore. The total grants to central universities also witnessed an increase in Budget by almost 20 per cent. Last year, the budget allocated to Central Universities was INR 9420 crore, however, this year it has been increased to INR 11,528.90. The overall education budget was hiked by 8.27 per cent.

Education Budget 2023: Total Allocation

The total education budget allocated to the two departments of the education ministry; i.e. School and Higher Education are INR 1,12,899.47 Crore. In FY 2022, the total education budget allocated was INR 1,04, 277.72 Crore in 2022-23. Department of Higher Education 2023-24: INR 44,094.62 and Department of School Education and Literacy 2023-24: INR 68,804.85. Last year, the Department of Higher Education was allocated INR 40,828.35 and Department of School Education and Literacy 2022-23: Rs 63,449.37 crore.

Education Budget 2023: Training programmes for government employees

The Finance Minister announced an integrated online training programme for civil servants and government employees to upgrade skills. 

Education Budget 2023: Skill-based training for youth

The focus will be given to skills, and economic policies to create more jobs. PM Kaushal Vikas Yojana 4.0 will also be launched to upskill lakhs of youth in the next three years. Along with this, 30 Skill India International Centres will be set up across states. In order to make youths industry-ready, new-age courses like coding, AI, IOT, mechatronics, drones and other soft skills will also be launched.

Education Budget 2023: Highlights

Check out the major announcements made by the Finance Minister for the education sector below:

• Establishment of 157 new nursing colleges in core locations
• 100 labs for developing applications for 5G services will be set up in engineering institutes.
• District Institutes of Education and Training (DIETs) will be developed as vibrant institutes of excellence. 
• National digital libraries to be established for children and adolescents and physical libraries at panchayat and ward levels. National Book Trust and Children's Book Trust will also provide books to kids in local languages and English to the physical libraries.
• Centre to recruit 38,800 teachers and support staff for the 740 Eklavya Model Residential Schools (EMRS) serving 3.5 lakh tribal in next three years. 
• Centre will provide a research and development (R&D) grant to one of the Indian Institutes of Technology (IITs) to encourage indigenous production of lab-grown diamonds in a bid to reduce imports.
• Dedicated multidisciplinary courses for medical devices will be supported in existing institutions to ensure availability of skilled manpower for futuristic medical technologies and research.

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