Budget may bring in more cash for education

Union Budget 2012-13 will be presented in the house on 16th March 2012. While the year 2011 saw a 24 per cent hike in education sector, year 2012 is expected to have its fair share. Last year Pranab Mukherjee, the Union finance minister allocated Rs.52,057 crore for this sector.

The budget allocation for education sector this year also is looking up with the sector facing the challenge to make industry-ready professionals and increasing the overall quality a institutes.
It is speculated that the budget will also include an accelerated tax break of 150 per cent for companies for their investment in education infrastructure.

The budget will address the issue of rationalisation in higher education by passing key legislations such as Prohibition of Unfair Practices Bill, Foreign University Bill and Education Tribunals Bill. Another key issue which is expected to be discussed in the union budget is the extension of interest subsidy to all courses and more emphasis on interest free education. The government this year has set a target of achieving a Gross Enrollment Ration (GER) of 30% by 2020 against the 12% noted in 2010 through significant private participation. There's also an increased emphasis on public private partnership (PPP) to compensate through financial allocation for public-private partnerships and fiscal benefits for PPP projects. Read More....

With 1.3 million schools, 30,000 colleges and 542 universities the estimated size of the public education sector is $40 billion and private education is $60 billion. The education budget 2012-13 is something to watch out for. Its time to calm down those racing pulse until the budget takes place. Read More..

 

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