Educational Spending and Budget | UGC NET Paper 1 Expected Topics 2024

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School education budget sees an increase of over Rs 500 crore, UGC funds cut by over 60 per cent
The budget for Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs) also saw a dip.
While the school education budget saw an increase of over Rs. 500 crore, the grant for higher education saw a dip from the previous year. The grant for higher education has dropped from Rs 57,244.48 crore (Revised Estimates) to Rs 47,619.77 crore.
However, the big surprise was that the funding for the University Grants Commission (UGC), which coordinates, determines, and maintains the standards of teaching, examination, and research in university education, saw a huge cut.
The funding for UGC saw an over 60 per cent drop. While the previous year's RE was Rs 6,409 crore, this time it has come down to Rs 2,500 crore – a cut of 60.99 per cent.
The budget for Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs) also saw a dip.
But the grant for India’s 56 Central Universities has increased to Rs 15,472 crores from RE of Rs 12,000.08 crore - a hike by over 28 per cent.
two autonomous school bodies - the Kendriya Vidyalaya Sangathan (KVS) and Navodaya Vidyalaya Samiti (NVS) - also saw the highest-ever budget allocation. While KVs was allocated Rs. 9302 crore as compared to Rs, 8500, NVS got the funding of Rs. 5,800 as compared to Rs, 5470 crore. A large chunk of the school education budget went to PM Schools for Rising India (PM SHRI), which got ₹6050 crore for the 2024-25 FY.