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Key Points of Budget 2024-25: Enhanced Allocations for Major Schemes and Educational Institutions

EducationKey Points of Budget 2024-25: Enhanced Allocations for Major Schemes and Educational Institutions

The Budget Allocation for the fiscal year 2024-25 has marked a significant milestone for the Department of School Education and Literacy, reaching an unprecedented ₹73,498 Crore. This represents the highest-ever allocation for the department, showcasing a substantial increase of ₹12,024 Crore (19.56%) compared to the Revised Estimates (RE) of 2023-24.

The autonomy bodies of Kendriya Vidyalaya Sangathan (KVS) and Navodaya Vidyalaya Samiti (NVS) have received the highest-ever allocations at ₹9,302 Crore and ₹5,800 Crore, respectively. KVS witnessed an increase of ₹802 Crore, while NVS saw a rise of ₹330 Crore from the RE of 2023-24.

The allocation for flagship schemes has witnessed growth, with increments in Samagra Shiksha by ₹4,500 Crore, PM-POSHAN by ₹2,467 Crore, and PM-SHRI by ₹3,250 Crore compared to the RE of 2023-24.

In the realm of Higher Education, the overall Budget Allocation for FY 2024-25 is ₹47,619.77 Crore, with Scheme allocation at ₹7,487.87 Crore and Non-Scheme allocation at ₹40,131.90 Crore. This reflects an overall increase of ₹3,525.15 Crore (7.99%) in the Budget Allocation for the Department of Higher Education compared to FY 2023-24.

Key allocations in Higher Education include ₹15,928.00 Crore for Central Universities, ₹596 Crore for Deemed Universities (an increase of ₹96 Crore from BE 2023-24), ₹10,324.5 Crore for IITs (an increase of ₹963.00 Crore), ₹5,040 Crore for NITs (an increase of ₹219.40 Crore), ₹1,540 Crore for IISERs (an increase of ₹78 Crore), and ₹875.77 Crore for Support to Indian Institute of Science (IISc) (an increase of ₹60.37 Crore).

Other notable allocations include ₹1,814.94 Crore for RUSA (an increase of ₹314.94 Crore), ₹1,800 Crore for Institutions of Eminence (IOE) (an increase of ₹300 Crore), ₹1,558 Crore for Pradhan Mantri Uchhatar Shiksha Protsahan Yojna (PM-USP) (an increase of ₹4 Crore), ₹600 Crore for National Apprenticeship Training Scheme (NATS) (an increase of ₹160 Crore), ₹480 Crore for National Mission in Education through ICT (an increase of ₹80 Crore), and ₹200 Crore for Multidisciplinary Education and Research Improvement in Technical Education-EAP (MERITE) (a 100% increase).

Additionally, an allocation of ₹255 Crore has been made for the scheme ‘Establishment of 3 Centres of Excellence (CoEs) in Artificial Intelligence (AI)’, building upon the budget announcement in FY 2023-24.

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