Education Budget 2019: Budget announced for education in 2019 In India a new NEP, Higher Education Commission, National Research Foundation and study will be formed. In the Union Budget 2019, declared by Finance Minister Nirmala Sitharaman, the initiative to promote and improve higher education in the country was discussed. In India, attention will be given to NEP, NRF, and study.
Finance Minister Nirmala Sitharaman emphasized the importance of not only providing literacy but also improving quality of education in its first budget speech. The Union Budget 2019 has prepared a roadmap for the implementation of the new National Policy and has also given the provision for the establishment of the Higher Education Commission. The main features of the Union Budget 2019 in relation to education sector are listed below.
Key Features of Education Budget 2019
- Focus on Research Infrastructure and the establishment of the National Research Foundation In order to improve the education of higher education in the country, the Finance Minister in his speech proposed the establishment of the National Research Foundation. The objective of NRF is to assimilate various research funds and provide a consolidated platform for the youth. The infrastructure will focus on funding, coordination, and promotion of various research initiatives in the country.
- Establishment of Higher Education Commission for Monitoring and Regulation of Higher Education Institutions and sharing them with the necessary training and resources needs.
- 400 crore for world-class institutions The aim of the Government is to improve the higher education standards in the country. In order to become a true center for higher education innovation and research, it is proposed to allocate 400 crores for the initiative of world-class institutes in budget 2019. This will help top education institutions, including IITs and other universities, focus on effective research.
- Study in India For the aspirational search, in 2019 the government called for studying in India. This initiative will focus on attracting foreign students to study in India, promoting better diversity and calling the country for innovative ideas and cultural interaction. The initiative is also expected to improve revenue and provide funding to educational institutions.
Within the education sector, the Union Budget 2019 emphasized the development of Indian institutions and congratulated the IIT and IISC for making the world’s top 200 universities. The budget also suggested that the draft of the National Educational Policy will be implemented soon. NEP gives roadmap based on learning outcomes and repeats the importance of research to promote the overall development of the economy.