Education Budget 2024: ₹47,619.77 crore has been earmarked for higher education in FY 24-25

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This represents a slight increment of ₹3,525.15 crore compared to the FY 23-24 allocation of ₹44,094.62 crore for the Higher Education Department.

In the Interim Budget, Finance Minister Nirmala Sitharaman allocated ₹47,619.77 crore to the Department of Higher Education within the Education Ministry for FY 24-25. During the presentation, the finance minister also emphasized the noteworthy achievements, including a 28 percent increase in female enrollment in higher education and a STEM course enrollment of 43 percent, which is among the highest globally.

The allocation for the Higher Education Department in FY 24-25 sees a marginal increase of ₹3,525.15 crore compared to the FY 23-24 allocation of ₹44,094.62 crore. The revised estimates for the department stand at ₹57,244.48 crore.

In total, the Education Ministry has been allotted ₹1,20,627.87 crore, with ₹73,008.10 crore designated as the budgetary allocation for the Department of School Education and Literacy (DoSEL).

Highlights of the 2024 Higher Education Budget:

  1. The allocation for Statutory and Regulatory Bodies, such as UGC and AICTE, decreased from ₹5,780 crore in FY 23-24 to ₹2,900 crore in FY 24-25.
  2. In this interim budget, Andhra Pradesh and Telangana Tribal Universities did not receive any allocation, unlike the previous fiscal year where they were allotted ₹37.67 crore in FY 23-24.
  3. National Digital University did not receive any funds in FY 23-24 but has been allocated ₹100 crore in FY 24-25.
  4. For the student financial aid category, both the Scholarship for College and University students and the Special Scholarship Scheme for Jammu and Kashmir received no allocation for the second consecutive year.

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