School education outlay up by Rs 4,200 cr
Rs 500 crore to subsidise higher education for poor
Tribune News Service
New Delhi, February 26
Committed to the implementation of Right to Education Act, the government today increased the allocation for school education and literacy by Rs 4236 crore over the last year.
As against the allocation of Rs 26, 800 crore in 2009-2010, the school sector will get Rs 31, 036 crore this year, with the Budget also reserving Rs 3675 crore additional money for the states to implement the RTE Act which guarantees free and compulsory elementary education to children 6-14 age-group. The Act will roll from April 1.
?States will have access to Rs 3675 crore for elementary education under the 13th Finance Commission grants for the current year,? said Pranab Mukherjee. The Tribune has yesterday reported the Finance Commission?s recommendation to the government to reserve Rs 20,000 crore over the next five years to enable states to ensure children?s right to elementary education. The government has accepted the recommendation, as requested by the Human Resource Development Ministry.
Overall, the education sector has got Rs 42, 036 crore this year as against Rs 36, 400 crore last time - a hike of 15.4 per cent more. Out of this, major hike has been for school education, with RTE Act on mind. The higher education sector has seen a marginal budgetary raise from Rs 9600 crore to Rs 11,000 crore this year, as against the last year, when it received a major boost.
This time, the FM has reserved Rs 500 crore for the Educational Loan Interest Subsidy Scheme for students with meagre financial means. The scheme, earlier announced by HRD Minister Kapil Sibal, seeks to provide subsidy on the interest on loan borrowed from the banks, under the educational loan scheme circulated by the Indian Bank Association for perusing professional education.
Another sum of Rs 40 crore has been set aside for the effective implementation of reforms in higher education.