Education Budget 2023: In the 2023-24 financial year, the central government plans to spend over Rs 1.12 lakh crore in the education sector. The education ministry’s outlay for the next financial year is Rs 1,12,898.97 crore, which is much higher than the revised estimates for the current financial year.
This is also the highest budget ever allocated to the ministry.
The Department of School Education and Literacy of the Ministry of Education has been allocated Rs 68,804.85 crore, while the Department of Higher Education has been allocated Rs 44,094.62 crore.
As per the revised estimates for the financial year 2022-23 shown in the budget documents, the higher education budget for the current financial year is ₹40,828.35. School Education Department got ₹ 59,052.78.
Education Budget 2023: Key Features
In the school education budget, the government has allocated Rs 364.1 crore for central sector schemes/projects, including National Awards to Teachers, Pradhan Mantri Innovative Teaching Program (DHRUV) and National Means cum Merit Scholarship Scheme.
The expenditure of the autonomous bodies for 2023-24 is Rs 14,391.36 crore. This includes ₹8,363.98 crore for Kendriya Vidyalaya Sangathan (KVS); ₹5,486.50 crore allocated to Navodaya Vidyalaya Samiti and ₹518.50 crore to National Council of Educational Research and Training (NCERT).
The government plans to spend Rs 11,600 crore under the Pradhan Mantri Poshan Shakti Nirman (PM Poshan). PM Poshan is a substitute for the Mid Day Meal Scheme.
In the higher education budget, the Center has allocated Rs 1,554 crore for the PM Uchchatar Shiksha Protsahan (PM-USP) scheme and Rs 400 crore for the PM Research Fellowship.
A major portion of the school education budget is allocated for holistic education. The government has announced Rs 37,453.47 crore for the country’s biggest school education scheme.
For Digital India e-learning, the government has allocated ₹420 crore, which is just ₹5 crore more than the revised estimate for 2022-23.
The total expenditure budget for research and innovation is Rs 210.61 crore.
Statutory bodies University Grants Commission (UGC) and All India Council for Technical Education (AICTE) have been allocated ₹5,360 crore and ₹420 crore, respectively.
Indian Institutes of Technology (IITs) have a support of ₹9,661.50 crore and NITs and IIEST have a support of ₹4,620 crore.