What is Interim Budget?

What is Interim Budget? The government every year presents its budget in the parliament about its road map for the year ahead which is called the budget But the interim budget is a short-term financial plan that is presented before the elections. The election is expected this year somewhere around April 2024. This interim budget can be called a temporary budget until a new government is formed.

Education Sector in Interim Budget

Though not much can be done in the Interim budget but focus of the government in this budget is Youth Power (Yuva Shakti). The government stresses the need for the goal of Viksit Bharat by 2047.

Finance Minister Nirmala Sitharaman presented the Interim Budget today on 1 February 2024.

Smt. Nirmala Sitharaman proposed setting up more medical colleges, as she presented the Interim Budget 2024-25 in Parliament today.

The new Medical Colleges will be set up by utilizing the existing hospital infrastructure under various departments.  A Committee will be set up for this purpose to examine the issues and make relevant recommendations, the Union Finance Minister stated.  She expressed that that this initiative will not only create opportunity for youth to become doctors but also improve healthcare services to the people. 

What is Interim Budget ? A few Features of Budget for the Education Sector are as follows

MINISTRY OF EDUCATION 120620.05 (figure in Crore)

Department of School Education and Literacy 73008.10

Department of Higher Education 47619.77

UGC received 2500 Crore

AICTE 400 crore

Digital India-e-learning-505 Crore

National Mission in Education Through ICT

• Higher Education Statistics and Public Information System (HESPIS)
• Academic Bank of Credits (ABC)

Research and Innovation Sector 355 Crore Under this only

• National Initiative for Design Innovation
• Startup India Initiative in Higher Educational Institutions
• Unnat Bharat Abhiyan
• Implementation of the IMPRINT Research Initiative (Impacting Research Innovation and Technology)
• Impactful Policy Research in Social Science (IMPRESS)
• Pandit Madan Mohan Malviya National Mission on Teachers and Teaching
• National Institutional Ranking Framework
• Global Initiative for Academic Network (GIAN)
• Programme for Apprenticeship Training
• National Apprenticeship Training Scheme (NATS)
• ASEAN Fellowship

IITs 10,324 Crore

IIMs-212

Indian Institute of Science, Education and Research (IISER)-1540 Crore

IISc-918 Crore

IIIT-515 Crore

Social Service 42,187 crore

It includes

• General Education
• Technical Education
• Secretariat Social Education
• Capital Outlay on Education, Sports, Art and Culture
• Capital Outlay on other Social Services

Others 5425 Crore

North Eastern Areas

Grants-in-aid to State Governments

Grants-in-aid to Union Territory Governments-

The Education Ministry received its highest-ever allocation, with the combined outlay of its two departments totaling Rs 1,20,620 crore

Smt. Nirmala Sitharaman also proposed that ASHA workers, Anganwadi workers and helpers will also be covered under the Ayushman Bharat Scheme