Union Finance Minister Nirmala Sitharaman has presented the Education Budget 2023 in Parliament. Since digital learning has expanded since the pandemic, budget analysts and experts expect new improvements and modifications to the digital infrastructure in terms of the education sector.
The Budget session 2023 began yesterday and the first part will end on 13 February. The Parliament will reconvene on 12 March for the second part of the Budget Session that will conclude on 6 April.
“Economic agenda for our vision focuses on 1) facilitating opportunities for citizens, 2) providing strong impetus to growth and job creation and 3) strengthening macroeconomic stability,” said FM Nirmala Sitharaman
Education Budget 2023: Key Updates
- 38,800 teachers to be hired for Ekalavya Model Residential Schools, Finance Minister Nirmala Sitharaman said while running the Education Budget Speech 2023.
- 157 new nursing colleges will be established in core locations. Funds allocated for nursing 2022-23 budget- Development of nursing services: Rs 20.43 crore, Indian Nursing Council: Rs 0.19 crore, Regional Institute of Paramedical and Nursing, Sciences, Aizawl: Rs 132 crore
- Higher Education Allocations for 2022-23- Central Universities: Rs 9,420 croreIIT: Rs 8,495 croreIIM: Rs 653.92 crore NIT: 4,364 croreIISER: Rs 1,379.53 croreIIIT: Rs 542.52 crore, which sums up to an increase by 8%
- National Digital Libraries for children and teenagers to be set up and physical libraries to be inaugurated in panchayats and ward levels.
- 100 labs to be established for developing applications for 5G services in engineering institutes across the country.
- Government will provide a research and development (R&D) grant to one of the Indian Institutes of Technology (IITs) to encourage indigenous production of lab-grown diamonds in a bid to reduce imports.
- Stipend support to be extended to 47 lakh youth in the next three years. National Apprenticeship Scheme to be in the effing
- With National Education Policy in focus, skilling, economic policies that create jobs will be given priority. PM Kaushal Vikas Yojana 4.0 will be launched to skill lakhs of youth in the next three years
- New-age courses for industry 4.0 like coding, AI, IOT, mechatronics, drones and other soft skills will be launched. As per the finance minister, 30 Skill India International Centres to be setup across country
- Top education institutes to have centres of AI excellence setup. Leading industry players will partner in conducting interdisciplinary research, develop cutting edge applications and salable problem solutions in the areas of health, agriculture and sustainable cities.
Last year, the total education budget 2023 allocation for the two departments of the education ministry (school and higher education ) was Rs 1,04,277.72 crore, pointing to a 11.85% increase.