News & Announcements

Plan outlay for education sector hiked

New Delhi, Sept 16,2012 : The outlay for the education sector for the 12th Plan Period has been finalised at 4,53,728 crore, a jump of around 155 per cent, with focus on setting up of new institues and universities and expanding existing ones.The outlay finalised by the Planning Commission today for higher education sector is at 1,10,700 crore, an increase of 178 per cent and Rs 3,43,028 crore for school education and literacy, a jump of 149 per cent. The demand of the HRD Ministry was over Rs 2.60 lakh crore for higher education sector.However, they said the Plan panel has supported a further increase in the outlay for higher education to Rs 1.66 lakh crore and a further hike of Rs 27,000 crore for school education. The outlay during the 11th plan period for higher education was Rs 39,804 crore and Rs 1,37,734 crore for school education. Infrastructure and capacity augmentation would be the prime focus for higher education sector as the government is targetting to take gross enrolment ratio to 20 per cent by 2020. The funds would be used to set up new institutions and expand the existing ones. On the anvil is setting up of state universities, general degree colleges and professional and technical educational institutions. The list also includes setting up of universities of Innovation while the Ministry is also planning to cover a minimum of 50 per cent students through various financing schemes as part of demand side management in higher education.

(Source-www.mb4education.com)