(The Gist of PIB) Rs. 400 Cr allocated for creating world class educational institutions [JULY-2019]

Rs. 400 Cr allocated for creating world class educational institutions

• While presenting the Union Budget 2019-20, Union Minister of Finance announced setting up of a National Research Foundation (NRF) to achieve the objectives of research and innovation.

Key announcements in Education Sector:

• An amount of Rs. 400 crore has been provided for FY 2019-20 to create “World Class Institutions” in the field of education which is more than three times the revised estimates for the previous year.
• The Government will also bring in a “New National Education Policy” to transform India’s higher education system to one of the global best education systems.
• A National Research Foundation (NRF) will be setup to fund, coordinate and promote research in the country.
• The ‘Study in India’ programme was announced that will focus on bringing foreign students to study in our higher educational institutions.
• A draft legislation for setting up Higher Education Commission of India (HECI)would be presented in the year ahead. This will help to comprehensively reform the regulatory system of higher education to promote greater autonomy and focus on better academic outcomes.
• National Sports Education Board for Development of Sportspersons would be set up under Khelo India Scheme to popularize sports at all levels.

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Courtesy: PIB