Budget 2021: Union finance minister Nirmala Sitharaman on Monday presented the budget for the financial year 2021-22. Several sectors including education had their hopes pinned to the budget following the losses due to the Covid-19 pandemic. Also Read - Why Did Nirmala Sitharaman Wear a Red Saree to Present Budget 2021? Read on
Finance Minister Nirmala Sitharaman delivered her promised budget like no other that was expected to provide relief to the pandemic-hit common man as well as focus more on driving the economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours. Also Read - Budget 2021 For Entertainment Industry: Tax Relief, Subsidy, Encouraging Female Employment - 4 Key Points
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, was widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments. Also Read - Expectations From Defence Budget 2021-22: What Our Armed Forces Need
Here are the key takeaways for the education sector:
- Central University to be set up in Leh, for providing accessible higher education in Ladakh.
- More than 15,000 schools to be qualitatively strengthened, with all components of National Education Policy, to emerge as exemplar schools in their regions, handholding and mentoring other schools. 100 new Sainik schools to be set up.
- Higher Education Commission to be set up, legislation to be introduced this year for the same. Umbrella structure to be created in 9 cities for better synergy among govt. supported institutions.
- National research foundation outlay to be RS 50,000 crore, over 5 years. Black small square RS 1,500 crore proposed for scheme to promote digital modes of payment.
- National Language Translation Mission to be launched.