Finance Minister Nirmala Sitharaman will present the Union Budget for the current financial year on July 23.
In the 2023 budget, the Ministry of Education saw a significant boost with an allocation of Rs 1,12,899 crore, marking a 13% increase.
Stakeholders expect an increase in education funds as compared to the previous year.
The budget allocation will be extended towards the implementation of various initiatives of the Central government.
Skill development programmes: Investment here could focus on digital infra and upskilling, thus enabling students to learn enhanced technologies.
Support for EdTech: EdTech companies need financial aid to provide online education at a lower cost.
Decreased interest rates: An increase in funds will enable low-interest education loans, encouraging more students to opt for higher education.
Investment in rural education: India has gradually improved its rural literacy programmes. With the allocation of more funds, more such initiatives can take place.
Opening science labs: Government colleges will use the funds to improve laboratories and equip them with better gadgets.