FM Nirmala Sitharamana has announced the Union Budget 2021 in the Parliament. This is termed to be one of the most important Budgets in recent times as the economy tries to recover from the Pandemic effects. Budget 2021 was telecasted Live primarily on Lok Sabha TV and also on Lok Sabha Tv’s YouTube channel.
Including education in the 5th important pillar of Atma Nirbhar Bharat, India’s finance minister announced that more than 15000 schools will be qualitatively strengthened under National Education Policy. The FM has also proposed setting up of Central University in Leh.
To reach out to the Tribal section of the society, 738 Eklavya schools will be established in Tribal areas. Rs. 38 crore will be spent per school. Scholarships worth Rs. 35,000 crore will be distributed for the scheduled castes. She said that 40 million students will be benefited from this.
Also, 100 new military schools would be built and for this, the help of private sector will be taken.
Additionally, the Finance Minister announced the creation of the Higher Education Commission in the budget speech. She said that the law would be amended for this. Also, other ‘umbrella’ structures us proposed to be created for higher education.
This year’s Budget focuses on six pillars: health & well-being, physical & financial capital & infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation & R&D, Minimum Govt & Maximum Governance.
It is expected that India’s real GDP would record a growth of 11 percent in 2021-22. The Finance Minister has said that Budget 2021-22 will “be a Budget like never before.” The budget focuses on infrastructure, healthcare, agriculture, rural economy, MSMEs sectors impacted by the Covid-19 pandemic and lockdown restrictions in 2020.
This is the 3rd budget under the BJP government lead by PM Narendra Modi. One of the most significant points that make this budget unique is that it is paperless. The Union Budget papers will not be printed for the first time since Independence, due to COVID-19 pandemic.
Last year, the government allocated Rs 99,300 crore for the education sector.
The first Union Budget of India was presented on February 18, 1860. After Independence, the first Union Budget of was presented by the first Finance Minister of Independent India, Sir R.K. Shanmugham Chetty, on November 26, 1947.