Union Budget 2024: Finance Minister Highlights Education Growth and New Institutes

During her address for the Union Budget 2024, Finance Minister Nirmala Sitharaman emphasized the growth of higher education institutions and the rising enrollment of women in STEM courses over the past decade.

She underscored the transformative impact of the National Education Policy, highlighting its role in shaping substantial reforms. In the previous fiscal year, the budget allocation for the Education Ministry saw a modest 8% increase, reaching Rs 1.12 lakh crore compared to Rs 1.04 lakh crore in 2022-23.

A large number of new institutions of higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 universities have been set up since 2014, Union Finance Minister Nirmala Sitharaman said on Thursday. Presenting the interim budget 2024-25, Sitharaman also said 3000 new ITIs have been established. "Our prosperity depends on adequately equipping and empowering the youth.

The National Education Policy 2020 is ushering in transformational reforms. PM ScHools for Rising India (PM SHRI) are delivering quality teaching and nurturing holistic and well-rounded individuals," the finance minister said. "The Skill India Mission has trained 1.4 crore youth, upskilled and reskilled 54 lakh youth and established 3000 new ITIs. A large number of new institutions of higher learning, namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMS and 390 universities have been set up," she added.