Finance Minister Nirmala Sitharaman delivered the 2024-25 Budget in the Lok Sabha, marking her seventh consecutive presentation and surpassing the previous record held by former Prime Minister Morarji Desai. Her address underscored the sustained public confidence in Prime Minister Narendra Modi’s government, which has now secured its third consecutive term.
The budget presentation highlighted several key areas of focus and funding changes. On a positive note, there was a substantial increase in financial support for educational initiatives to enhance government schools. The Prime Minister’s Schools for Rising India (PM SHRI) allocation more than doubled from the revised estimates for FY 2024, reaching ₹6,050 crore for FY 2025. This initiative is part of a broader effort to modernize and improve the quality of education in government schools. Additionally, the budget for Samagra Shiksha Abhiyan, a program designed to support comprehensive school education, saw an increase of ₹4,500 crore, bringing its total allocation to ₹37,500 crore, as mentioned in a report by Edex Live.
However, the budget also reflected significant cuts in funding for some of the country’s most prestigious educational institutions. The total allocation for the Ministry of Education amounted to ₹1.48 lakh crore, which is only 4.6% of India’s Gross Domestic Product (GDP), falling short of the 6% target recommended by the National Education Policy (NEP).
Among the reductions, the budget for Indian Institutes of Technology (IITs) was notably reduced to ₹10,324 crore. Since 2014, the Narendra Modi-led administration has established seven IITs, 16 Indian Institutes of Information Technology (IIITs), seven Indian Institutes of Management (IIMs), 15 All India Institutes of Medical Sciences (AIIMS), and 390 universities, underscoring the government’s commitment to expanding higher education. Despite this growth, funding for these elite institutions has been cut back.
The University Grants Commission (UGC) experienced a dramatic reduction in its budget, with funding slashed by approximately 60%, leaving it at ₹2,500 crore for the year. This cut reflects a broader shift in funding priorities within the education sector.
