Union Budget 2020: Key Takeaways for Education Sector
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February 02, 2020

Union Budget 2020: Key Takeaways for Education Sector

Nirmala Sitharaman, the Finance Minister presented the Union Budget 2020-21 on February 1st, 2020. In budget 2020, FM announced several measures to boost the education sector of the country. Here are some of the key takeaways for education sector:


Fund allocation:

The Union Finance Minister, Nirmala Sitharaman, said that the education sector will be allocated Rs 99,300 crore , while Rs 3,000 crore for skill development in FY21.

Online degree level education program:


The Budget proposes to start degree level full-fledged online education programme. This shall be offered only by institutions who are ranked within top 100 in the National Institutional Ranking framework.

New education policy:


The Centre to announce new education policy soon; govt received over 2 lakh suggestions on it,” said the Finance Minister.

New
National Police & Forensic universities:

The govt has also purposed to set up National Police University and National Forensic University in the country.

Bridge courses for professionals:

The government will also design special bridge courses for teachers, nurses, para medical staff, caregivers.

Internship for young engineers:

The Central government is also planning to start a programme for urban local bodies to provide opportunities for internship to young engineers.

PPP model in healthcare sector:

The government has also proposed to attach medical colleges with district hospitals on PPP model to deal with shortage of doctors.

Apprentice training program:


To boost employability, the Budget proposed apprenticeship embedded degree/diploma courses by March 2021 in about 150 higher educational institutions.

FDI in education sector:

The Finance Minister on Saturday announced that govt would also take steps to attract external commercial borrowing, Foreign Direct Investment (FDI) in education sector.

IND-SAT exam:


Under its “Study in India” programme, Ind-SAT is proposed to be held in Asian and African countries. It shall be used for bench-marking foreign candidates who receive scholarships for studying in Indian higher education centres.

National Recruitment Agency:


The Budget proposed to set up a National Recruitment Agency (NRA) as an independent, professional, specialist organisation for conduct of a computer-based online Common Eligibility Test for recruitment to non-gazetted posts.