In what it might be termed as a litmus test for Modi government 2.0, the Union Budget 2019-20 has been pinned with high hopes. Finance Minister Nirmala Sitharaman will take centre stage on July 5 to deliver the much-anticipated Budget speech.
There is a lot of hope among different sections that progressive economic reforms will be proposed by this government, which has a good five-year period to execute them. This time it won't be only about income tax slab or railway budget, this time people have also pinned hope on the education budget. In 2018-19, the former Finance Minister, Arun Jaitley allocated Rs 850 billion towards the education fund. This year, in the interim budget, he announced a 10% increase in the education budget, dedicating a total of Rs 938 billion for schools and higher education programmes.
Here are some of the expectations from the government in regards to education budget:
The Federation of Indian Chambers of Commerce and Industry (FICCI) in its 'Pre-budget Memorandum 2019-20' has outlined some expectations for the education budget -- a Rs 10,000 crore annual allocation on making smart device available to each student and teacher free of cost under the Sarva Siksha Abhiyan. Creation of 5 million scholarships at Rs 20,000 each for admission in higher education institutions for all students whose parental income is less than Rs 5 lakh per annum, irrespective of gender, religion, caste or any other identity. Rs 10,000 crore should be allocated over a span of 3 years for the same. A 50 per cent increase in the spending on the teacher education scheme to strengthen teacher education institutes across the country.
Another agency named Care Ratings has highlighted few points for education the budget. The agency says, additional funds should be allocated for teacher training and school infrastructure to boost learning outcomes. Additional funds should be allocated for capacity building at existing central institutions. Funds should be allocated for Scholarships students in higher education who are from an economically or social weaker section of the society. It further adds that the government should provide additional tax benefits to institutions executing such skill enhancement programmes and zero rate GST on all education-related products and services.
