Budget 2024: FM Nirmala Sitharaman hikes higher education funding by 8%:

 

The Ministry of Education’s higher education sector would receive Rs 47,619 crore, according to Finance Minister Nirmala Sitharaman’s allocation during the presentation of the Union Budget for 2024. In comparison to the allotment from the previous year, this represents an increase of 8%.
The University Grants Commission (UGC) budget is split into three main categories: deemed institutions, central universities, and the UGC itself.
Funding for a few colleges affiliated with central universities will move from the UGC budget to the Central Universities budget starting in the 2024–2025 fiscal year.
The UGC budget will be cut as a result of this change, which causes funding for Central Universities to significantly increase from Rs 11,612 crore in the previous budget to Rs 15,928 crore.

Furthermore, the Central Government’s budget for deemed universities has increased significantly, from Rs 500 crore to Rs 596 crore.
With a significant 9% increase from the previous year, the UGC budget for the current financial year has increased from Rs 17,473 crore to Rs 19,024 crore.

 

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