New Education Policy: Centre allocates Rs 400 crore for creating world class institutions

Bhubaneswar: The Centre will soon introduce a new ‘National Education Policy’ to transform higher education system in the country. The new policy has proposed major changes in both school and higher education among others, better Governance systems and brings greater focus on research and innovation.

An amount of Rs. 400 crore has been provided for FY 2019-20 to create “World Class Institutions” in the field of education which is more than three times the revised estimates for the previous year, said Union Finance Minister Nirmala Sitharaman while presenting the Union Budget today.

Sitharaman also announced setting up of a National Research Foundation (NRF) to fund, coordinate and promote research in the country. NRF will ensure that the overall research eco-system in the country is strengthened with focus on identified thrust areas relevant to our national priorities and towards basic science without duplication of effort and expenditure.

The programme ‘Study in India’ will focus on bringing foreign students to study in our higher educational institutions. The Finance Minister disclosed that a draft legislation for setting up Higher Education Commission of India (HECI) would be presented in the year ahead. This will help to comprehensively reform the regulatory system of higher education to promote greater autonomy and focus on better academic outcomes.

Besides, the Khelo India Scheme will be expanded to provide all necessary financial support and a National Sports Education Board for Development of Sportspersons would be set up under Khelo India Scheme to popularize sports at all levels.

Highlighting the recent achievements, Sitharaman said that while there was not a single Indian institution in the top 200 in the world university rankings five years back, there are three institutions now – two IITs and IISc Bangalore – in the top 200 bracket. This has been achieved due to concerted efforts by the institutions to boost their standards and also project their credentials better.

(With Inputs from PIB)