New Delhi – The government has allotted Rs 400 crore for the financial year 2019-20 (Apr-Mar) to create world class institutions in the field of education.
This amount is more than three times the revised estimates for the previous year, Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman said while presenting the budget in the Parliament today (5 Jul).
The Finance Minister assured that the government will also bring in a new National Education Policy to transform India’s higher education system to one of the global best education systems.
The finance minister also announced setting up of a National Research Foundation (NRF) to fund, coordinate and promote research in the country.
Sitharaman also announced the programme ‘Study in India’, that will focus on bringing foreign students to study in our higher educational institutions. The FM today disclosed that a draft legislation for setting up Higher Education Commission of India (HECI) would be presented in the year ahead.
Khelo India Scheme will be expanded to provide all necessary financial support and a National Sports Education Board for Development of Sports persons would be set up under Khelo India Scheme to popularize sports at all levels, the FM said.