New Delhi: Finance Minister Nirmala Sitharman on Saturday proposed to allocate ₹99,300 crore for the education sector, adding that it is an integral part of the three themes — Aspiration, development, compassion — of the Budget 2020-21.
Government may explore external commercial borrowings and foreign direct investment for funding the education sector and attract key talent, FM Sitharaman said in her budget speech.
In 2019-20, the union budget had allocated Rs. 94,853.64 crore for education that caters to around 300 million students in 1.4 million schools and over 51,000 colleges.
By 2030, India will have largest working age population and government will work to provide required skills for them to get into jobs, FM added.
There’s a global demand for teachers, medical and para-medical staff and the country will start a bridge program to tap these sectors and fill out the employment gap.
To bring foreign students to Indian campuses, the Finance Minister proposed to start an Indo-SAT exam under a ‘Study in India’ scheme, to enable evaluation and study of students from Asia and Africa who seek admission here.