Economy, asked by prity6221, 1 year ago

Analysis of current annual budget of india

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Answered by Imranpuda1
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TOI

BUSINESS

TOI Budget 2018 analysis: India needs to spend more on education

TIMESOFINDIA.COM | Updated: Jan 31, 2018, 18:53 IST

 

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HIGHLIGHTS

In this budget special, TOI crunches a number of indicators to show that India needs to scale up its spending on education

NEW DELHI: Education was seen as an important sector for nation building early on after independence, when a host of IITs and other government colleges were set up. However, the words ‘education‘ or ‘teacher‘ were never quite buzzwords in 

budget

speeches. This changed in 1991-92 when then finance minister 

Manmohan Singh

 mentioned education and related words no less than 19 times in his budget speech. The 2001-02 and 2007-08 budgets also saw significant mentions.

In the Union Budget 2017-18, the outlay for the education sector was increased by 9.9 per cent. Of the outlay of Rs 79,686 crore allocated for the education sector, Rs 46,356.25 crore was for schools and the rest for higher education. While this looks impressive, the real picture is not quite as rosy.


Consider this: India’s overall allocation to this important sector in the last decade has hovered between 3.5-4 per cent of total expenditure. Last year, the figure was 3.7 per cent. This needs to grow, particularly when you compare India’s spends on education is the lowest among peers. A closer look at the state of education in the country reveals further chinks in the education sector, and it is rural India which is bearing the brunt of it. Here’s what the actual picture looks like:




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