Education Budget 2024 Highlights:
Female Enrollment
Female enrollment in higher education increased by 28%, with STEM courses enrollment at 43%, one of the highest globally.
Medical Colleges
The Education Budget 2024 Plans to set up more medical colleges using existing hospital infrastructure, with a committee set up to examine issues and make recommendations.
PM SHRI Schools
Highlighted the success of PM SHRI schools in delivering quality teaching and nurturing holistic individuals.
Skill India
Skill India trained 1.8 crore youths, upskilled and re-skilled 54 lakh youths, and established 3,000 new ITIs.
Expansion of HEIs
The expansion included 7 IITs, 16 IIITs, 7 IIMs, 16 AIIMS, and 390 universities, enhancing educational opportunities, especially in Tier 2 and 3 cities.
Stakeholder Reactions
Various stakeholders from the education sector provided positive reactions to the budget, emphasizing the importance of investing in youth and the future of education.
2023 Education Budget Highlights
New Initiatives:
The 2023 budget announced the establishment of 157 new nursing colleges and three new centers of excellence for Artificial Intelligence (AI) in top educational institutions.
Budget Allocation:
The Education Ministry’s budget allocation saw a marginal increase of 8% from Rs 1.12 lakh crore compared to Rs 1.04 lakh crore in 2022-23.
Funding for UGC:
The funding for the University Grants Commission (UGC) was significantly reduced to Rs 2,500 crore from the previous year’s revised estimate of Rs 6,409 crore, marking a 60.99% drop.
Increase in Grants:
Grants for central universities saw an increase of over Rs 4,000 crore with Rs 15,928 crore allocated for the financial year 2024-25.
World Class Institutions:
Allocation for the ‘World Class Institutions’ for Institutions of Eminence (IoE) increased from Rs 1,500 crore in 2023-24 to Rs 1,800 crore in 2024-25.
Research and Innovation:
Funding for research and innovation rose to Rs 355 crore from Rs 210.61 crore allocated the previous year.
Samagra Shiksha Abhiyan:
The allocation for Samagra Shiksha Abhiyan saw a nominal increase from Rs 37,453.47 crore to Rs 37,500 crore in 2024-25.
National Digital Library:
A national digital library for children and adolescents was announced, building upon a similar initiative from 2018.
Comparison Between Education Budget 2023 and Education Budget 2024 :
Budget Allocation
Both years emphasized increasing the budget allocation for education, with specific focus areas such as medical colleges, STEM education, and skill development.
Focus on STEM and Healthcare
The Education budget 2024 budget continued the trend of focusing on STEM education and healthcare by planning more medical colleges and highlighting the increase in female enrollment in STEM.
Skill Development
Skill India remained a priority, with significant investments in training and upskilling youths.
Higher Education Institutions
Both budgets emphasized the expansion of higher education institutions, although the education budget 2024 budget placed a stronger emphasis on creating more opportunities in Tier 2 and 3 cities.
Innovation and Research
The 2024 budget prioritized research and innovation, building upon the previous year’s allocations and initiatives.
Overall, both the 2023 and education budgets 2024 focused on expanding educational opportunities, enhancing skill development, and increasing access to higher education, with a notable emphasis on STEM education and healthcare in 2024.