Union Budget 2020: FM Nirmala Sitharaman allows FDI in education, allocates Rs 99,300 crore to sector

Finance minister Nirmala Sitharaman allocated Rs 99, 300 crore for the education sector along with Rs 3,000 crore for skill development in FY21. Presenting her second budget under the Modi 2.0 government, FM Sitharaman said that the government would also introduce foreign direct investment (FDI) in the sector.

She added that further steps will be taken to ensure higher quality education to students. She also stated that by 2030, India will have the largest working age population in the world.

Other announcements by the finance minister meant for the education sector included- degree-level full-fledged online education programme to be offered by top 100 institutes, introduction of new courses in 150 universities by 2026, introduction of 'Ind-SAT' exam for Asian and African countries to help make India a higher education destination.

Apart from these announcements, FM Sitharaman also proposed to attach a medical college in existing district hospitals.

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She also enunciated that the government's 'Beti Bachao, Beti Padhao' campaign has yielded formidable results adding that the girls' gross enrollment ration is now higher than boys at all levels.

The Economic Survey 2019-2020 presented on Friday (January 31) also pushed for privatisation of education, more flexible labour regulation, as well as better connectivity to villages to fast-track entrepreneurship at the bottom of the administrative pyramid.

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