Union Budget 2021: Education Ministry gets Rs 93,224 cr, over Rs 8000 cr more than estimates

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Union Finance Minister Nirmala Sitharaman announced yesterday the Ministry of Education has been allocated Rs 93,224 crore in the Union Budget 2021, observing an increase of more than Rs 8,100 crore from the revised estimates for the current fiscal.

For the 2020-21 fiscal year, the Education Ministry was allotted Rs 99,311.52 originally, which was eventually revised to Rs 85,089.07 crore as the coronavirus pandemic hit the country, and classes were ordered shut to prevent the spread of the virus.

The school education scheme of the ministry, Samagra Shiksha Abhiyan, had its allocation of funds reduced this year, to Rs 31,050.16 crore from 38,750.50 crore in the current fiscal as per the Union Budget 2021 announced yesterday.

KV, NVS funds increased
For this year, the funds for the National Scheme for Incentive to Girls for Secondary Education have been reduced to just Rs 1 crore from Rs 110 crore. As per the details of the budget, the funds for KV and NVS have been increased this year.

The funds for the Kendriya Vidyalayas, however, have been increased from Rs 5,516 crore to Rs 6,800 crore. The budget allocation to Navodaya Vidyalayas has also been increased by Rs 500 crore. A sum of Rs 3,300 crore was allocated to Navodaya Vidyalayas this fiscal, which has been raised to Rs 3,800 crore for the upcoming fiscal.

The reduction in the funds for the Higher Education Financing Agency (HEFA) is drastic this year as it has been reduced from Rs 2200 crore to Rs 1 crore. The allocation for world-class institutions has been increased from Rs 500 crore to Rs 1,710 crore.

During the presentation of the Union Budget 2021 yesterday in the parliament, it was also announced that the funds for scholarships for college and university students have been increased from Rs 141 crore to Rs 207 crore.