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Education Budget 2023 Highlights: National Digital Library, New Nursing Colleges And More

Education Budget 2023 Live Updates: Check the latest and live updates on Budget 2023, Education Budget 2023, and more.

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Education Budget 2023 Highlights: National Digital Library, New Nursing Colleges And More

Background

Education Budget 2023 Live Updates: Union Finance Minister Nirmala Sitharaman will be presenting the Budget 2023 today in Parliament. It is expected that the Budget 2023 will focus on boosting the country's economy which has been impacted by the Covid-19 pandemic. The government is likely to announce measures to spur growth, create jobs, increase investment in infrastructure and the healthcare sector, and support the agriculture and rural sector. Additionally, the government may also announce reforms in the Education sector.

Earlier, UGC Chairman Prof M Jagadesh Kumar told ABP Live that the government is set to introduce several reforms and these require huge investments. Pointing out that there was a 6 to 7 percent increase in the allocation last year, compared to the previous year, Prof Kumar said: “I would expect a similar trend to happen this year also and much of these funds will be used for infrastructural development, for creating a better digital backbone for our higher education.”

To meet the demands of the National Education Policy (NEP) 2020, it's recommended by industry specialists that the allocation of GDP for education should be 6% or more. Despite the NEP's recommendation of 6% of GDP for education, the sector has only received 3.1% of GDP as of 2022-23. The education budget allocation for the two departments of the education ministry -school and higher education - was Rs 1,04,277.72 crore, an 11.85% increase. Out of this, Rs 63,449.37 crore was given to the department of School Education and Literacy and Rs 40,810.34 crore was given to the Department of Higher Education.

On Tuesday, Union Finance Minister Nirmala Sitharaman tabled the Economic Survey (2022-23) in Parliament. The Economic Survey 2022-23 has forecast India’s GDP growth for the next fiscal 2023-24 in a broad range of 6-6.8 percent. Its baseline forecast for real GDP growth is 6.5 percent.  

According to the Economic Survey 2022-23, the Indian economy is “staging a broad-based recovery across sectors”, positioning itself to “ascend to the pre-pandemic growth path in FY23.”

13:16 PM (IST)  •  01 Feb 2023

Education Budget 2023: ₹1,12,898.97 Crore Allocated For 2023-24

The government has allocated ₹1,12,898.97 crore to the Ministry of Education for the 2023-24 Financial Year. ₹44,094.62 crore is allocated for Higher Education Budget for 2023-24, a significant increase from ₹40828.35 in revised estimates of 2022-23. While, School Education budget for 2023-24 is ₹68,804.85, which is ₹9,752.07 crore more than the revised estimate for FY 2022-23.

13:07 PM (IST)  •  01 Feb 2023

Centres of Excellence For AI

Finance Minister Nirmala Sitharaman announced that three centres of excellence will be created to boost Artificial Intelligence (AI) in India. The centres will be established in top Indian institutions to ensure that we make AI in India and make AI work for India.

13:02 PM (IST)  •  01 Feb 2023

Govt To Support Hyderabad’s IIMR As Centre of Excellence

Union Finance minister Nirmala Sitaraman on Wednesday in the budget speech said that the centre will support the Indian Institute of Millets Research (IIMR), Hyderabad as a Center of Excellence.

12:56 PM (IST)  •  01 Feb 2023

Education Budget Live: Teachers’ Training

Teachers’ training will be re-envisioned through innovative pedagogy, curriculum transaction, continuous professional development, dipstick surveys, and ICT implementation. The District Institutes of Education and Training will be developed as vibrant institutes of excellence for this purpose.

12:55 PM (IST)  •  01 Feb 2023

Multidisciplinary Courses For Medical Devices

Dedicated multidisciplinary courses for medical devices will be supported in existing institutions to ensure the availability of skilled manpower for futuristic medical technologies, high-end manufacturing and research.

12:54 PM (IST)  •  01 Feb 2023

Medical Research

Facilities in select ICMR Labs will be made available for research by public and private medical college faculty and private sector R&D teams for encouraging collaborative research and innovation. 

12:43 PM (IST)  •  01 Feb 2023

Education Budget 2023 Key Highlights

  • The centre will recruit 38,800 teachers and support staff for EkLavya Schools and support staff for the 740 Ekalavya schools serving 3.5 lakh tribal students.
  • A National Digital Library for children and adolescents will be set up for facilitating the availability of quality books across geographies, languages, genres and levels and device-agnostic accessibility. 
  • 157 new nursing colleges will be established in colocation with the existing 157 medical colleges established since 2014.
  • National Book Trust and Children's Book Trust will provide books in local languages and English to the physical libraries.
  • A research and development grant will be provided to one of the IITs for the development of Lab-grown diamonds.
12:08 PM (IST)  •  01 Feb 2023

Lab Grown Diamonds

Government to provide R&D grant to one of the IITs to encourage indigenous production of lab-grown diamonds in a bid to reduce imports, says Finance Minister.

11:59 AM (IST)  •  01 Feb 2023

Pradhan Mantri Kaushal Vikas Yojana 4.0

To skill the youth for international opportunities, 30 Skill India International Centres will be set up across different States.

12:00 PM (IST)  •  01 Feb 2023

100 Labs For 5G In Engineering Colleges

Finance Minister Nirmala Sitharaman said that 100 labs for 5G will be set up in engineering institutes.

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