Chidambaram has disclosed the Budget Allocation today, 28 Feb Thursday in the Parliament. He calls Education as as area of Priority and announced an increase of 17% in te budget allocation to this sector, to Rs.65,867 crore in the financial year 2013-14.
However, the Reuters Market Eye - Shares in education-related companies have gained after Finance Minster P. Chidambaram says the 2013/14 allocation to the ministry of human resources and development has been increased to 658.67 billion rupees.
Chidambaram said "My idea is to provide opportunities for youths in order to acquire education, skills, ecent jobs and live with their families in a safe environment".
He also highlights the flagship midday meal scheme at Government schools gor an allocation of Rs. 13,215 crore which is over Rs.130 billion. "Also, thousands of scholarship would be given to girl students, and those belonging to Schedule Castes and Schedule Tribes", he added.
Shares of companies engaged in education business such as NIIT, Educomp Solutions, Everonn Education and Aptech have rallied up to 9%. "The Sarva Shiksha Abhiyan (SSA) and the Right to Education Act are firmly in place. I propose to provide Rs 27,258 crore for SSA in 2013-14," he added.
Among the individual stocks, Everonn Education has rallied 9% to Rs 70.85, followed by NIIT (7% at Rs 25.25), Educomp Solutions (4% at Rs 88) and Aptech (3% at Rs 49.05) on BSE.
Lets Take Up a glance at 2012-13 Budget allocation:
Pranab Mukherjee, finance minister, presented the Union Budget for the year 2012-13 The Budget was positive for the education sector, with good amounts allocated to higher education and school education exempted from service tax.
Right to Education (RTE)-Sarva Shiksha Abhiyan (SSA) received Rs 25, 555 crore allocation, showing an increase of 21.7%; while a 29% increase for Rashtriya Madhyamik Shiksha Abhiyan making it Rs 3,124 crore.
As proposed, 6000 schools will be set up at block level as model schools in the 12th Five Year Plan. Besides, a Credit Guarantee Fund announced to be set up for better flow of credit to students.
An allocation of Rs 15, 850 crore was made for Integrated Child Development Services (ICDS) scheme, an increase of 58% and Rs 11, 937 crore for National Programme of Mid-Day Meals in schools for the year 2012-13. Also, an allocation of Rs 750 crore was proposed for Rajiv Gandhi Scheme for Empowerment of Adolescent Girls, SABLA.
Click here to read Highlights of the Budget 2013.
However, Education is gaining importance every year, Girls Education is being taken seriously as well as Education ofr the ST and SC category students. What's your opinion on this. Share with us now!!