Budget 2017: A Look at Important Reforms in the Education Sector

Sarika Rana updated on : 04 Feb 2017
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With the announcement of Budget 2017 by the Finance Minister, take a look at the highlights of the reforms made in the education sector right here!

Budget 2017 Highlights

Finance Minister Arun Jaitley announced the budget 2017 on February 1, 2017 emphasizing on reforms in education regulation agency UGC, more autonomy for colleges and universities and science with a big push to innovation. The big news is that a national testing agency will conduct all the examinations in higher education, brushing off the entire burden on the Central Board of Secondary Education (CBSE), All India Council for Technical Education (AICTE) and other agencies.

The main highlight of the budget 2017 in education sector was the introduction of 350 online courses and increase of employment opportunities that will be introduced in textile and tourism industries. Mr. Ajay Chhangani, CEO & Co-Founder of RISE INDIA said that ‘The finance minister has taken numerous great moves in union budget’17 like the implication of 25% tax on companies having less than 50 crore turnover. In addition, the setup of 100 international skill development centres and 350 online courses with top faculty would help in energiing the youth and accelerate the employment growth of the country. Allocation of 1.84 lacs crores for skill development for women is the biggest ever initiative on women empowerment taken by Government of India. This budget has many provisions to boost the SME and educations sector and it will create more job opportunities for the youth.”

Here are a few highlights from the Budget 2017:

  1. Two new AIIMS will be opened in Gujarat and Jharkhand
  2. More employment opportunities in the tourism sector
  3. INR 3000 crore allocated onky for IITs
  4. Greater autonomy will be provided to the major universities
  5. National Testing Agency will be conducting all the major entrance examinations
  6. Sankalp, a market-related trading programme would be launched
  7. Restructuring of UGC
  8. Skill strengthening to be implemented from this year with a budget of INR 2,200 crore
  9. CBSE will be free from conducting any entrance examination and will be focus on academics
  10. Special scheme for employment has been launched in the textile sector
  11. 100 India International centres will be launched across the country for the youth to help seek jobs outside India
  12. Major focus on the true potential of the youth
  13. Access to SWAYAM education portal online, which will be introduced with 350 courses
  14. Market and quality relevance will be noted in vocational training

Budget 2017: Infrastructure problems in IITs and IIMs that still need to be addressed

The experts urged the government to first improve the infrastructure of the infrastructure of Indian institutes of Management (IIMs) and Indian Institutes of Technology (IITs), before making 10 public and 10 private educational institutions of world-class standards. Many of the new IIMs do not have hostels and good campuses. The need of making IITs and IIMs excellent institutions at par with global standards; to make it happen, these institutions will need to improve both their research and teaching fronts.

From INR 72,394 crore in 2016 to INR 79,686 crore this year, a hike of INR 7,292 crore is seen and in that, a major chunk has gone to IITs, which is INR 3000 crore. 

Budget 2017: Education Sector way back in the year 2016

  • Sarva Shiksha Abhiyan was introduced to increase focus on quality of education
  • A digital literacy scheme was introduced for covering six crore additional rural households
  • Entrepreneurship training was provided across schools and colleges along with massive online courses
  • The National Scheme Development Mission was started to impart training to 76 lakh youth
  • 62 new navodaya vidyalayas were created to provide quality education
  • INR 1700 crore provided for 1500 multi-skill development centres
  • 10 public and 10 private institutes were made world-class
  • Scheme of INR 500 crore was introduced for promoting entrepreneurship among SC/ST
  • INR 1000 crore budget was allocated for higher education financing

 

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