New Delhi, February 28: Finance minister Arun Jaitely presented the first year Union Budget of Prime Minister Narendra Modi's government on Saturday.
Highlighting that the budget, which aims at the growth and investment in 2015-16 fiscal year, the Finance minister Arun Jaitely said: There is a need to ensure improvement in the education sector in terms of quality and outcomes.
Explaining the introduction of new scheme "Pradhana Mantri Vidya lakshmi Karayakram",the Finance Minister said "The schemes at aims providing educational loan for higher education".
The scheme also ensures that no students should be deprived of education following lack of funds", he added.
Besides this, the Finance minister also proposed the establishment of new institutions like: AIIMS in Tamil Nadu, Jammu and Kashmir, Punjab, Assam; AIIMS-like institution in Bihar; IIT in Karnataka and ISM Dhanbad will be upgraded to IIT; IIMs in Andhra Pradesh and Jammu and Kashmir; Centre for Film Production and Animation in Arunachal Pradesh.
Thus, a total of Rs. 68,968 crore has been allotted to the education sector in the Union Budget 2015.