Tap to Read ➤

Union Budget 2024: Educational Angle

India's booming young population demands a focus on skilling and education. Here's a quick look at the key highlights of the 2024 budget's impact, presented on February 1st, 2024.
Increased Allocation
The budget allocated ₹1,25,123.47 crore to education, representing an 11% increase, but still short of NEP's 6% GDP recommendation.
Digital Push
- ₹4,000 crore dedicated to establishing a National Digital University, offering affordable online education.

- Plus, ₹500 crore is allocated for setting up virtual labs in HEIs.
Skill Focus
- ₹12,000 crore investment announced for PMKVY 4.0 focusing on skilling youth

- ₹1,000 crore set aside for strengthening ITIs and establishing new ones
Teacher Training
- ₹500 crore allocated for the National Mission for Teachers, emphasising professional development

- Budget set for promoting research and innovation in HEIs too.
Challenges: Union Budget 2024
- To bridge the digital divide more strategic investments are required

- Infrastructure upgrades, learning gaps, and teacher training need more attention

- Sustained push needed for universal quality education by 2030
With the blueprint laid, the journey to empower India's youth begins now. Final budget details arrive in June/July, let's roll up our sleeves and start building!