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Highlights and Impact of the Union Budget 2013-14 on the Education sector

Source: digitalLearning

Finance Minister, P Chidambaram has announced the Union Budget 2013-14 which has received mixed reactions from industry and academia. Here are some highlights of what education received from the budget 2013-14

  • Budget 2013-14: Rs 1 lakh crore allotted for enhancing skills of youth
  • India to get its first all-women’s bank: FM
  • Budget 2013-14: Allocation of Rs 65867 crore to education ministry, up 17%
  • Budget 2013-14: Tax Free Bonds – Will allow some organisations to raise funds strictly based on need
  • Budget 2013-14: FM allocates Rs 65,867 crore to HRD ministry Giving the emphasis on education, Finance Minister P Chidambaram said Budget 2013 will allocate Rs 65,867 crore to the HRD ministry.
  • My Budget’s overarching goal is to help youth, says FM
  • Budget 2013: To allocate 100 crores to AMU, BHU, TISS-Guwahati and INTACH
  • Budget 2013-14- Allocation Rs 1000 crore to extend skills of youth: FM
  • Group insurance schemes to be available for teachers, nurses: FM
  • Integrated Child Development’s funds enhanced by 11.7%
  • Govt announces Rs 2,000-cr fund for scientific innovations
  • Grant of Rs 100 crore each for institutions of excellence, says FM
  • Clarity on tax issues related to R&D centres in IT soon
  • FM gives Rs 100 crore to Tata Institute of Social Science, Guwahati
  • Donations to National Children’s Fund will get 100% tax exemption
  • Government committed to the creation of Nalanda University as a centre of educational excellence
  • Indian Institute of Biotechnology will be set up at Ranchi: FM
  • On-campus startup incubators get a boost