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An outlay of Rs 85,010 crore for the education budget for the next fiscal was announced by Union Finance Minister Arun Jaitley during his Union Budget 2018 speech at Parliament on Thursday, 1 February.
While Rs 35,010 crore have been allocated for higher education, an amount of Rs 50,000 crore has been earmarked for school education.
The Finance Minister announced that the government would launch 'Revitalising Infrastructure and Systems in Education' by 2022.
Jaitley proposed setting up two new full-fledged schools of planning and architecture, as well as 18 schools of planning and architecture, under the Indian Institutes of Technology (IIT) and National Institutes of Technology (NIT). These will be autonomous schools.
As many as 1,000 engineers will be offered handsome stipends and the Prime Minister Research Fellowship so that they could be incentivised to do PhDs at IITs and IISc.
The government would set up 24 new medical colleges across the country.
The Finance Minister also said that we need to move from the blackboard to the digital board and that the government focuses on digital education as part of its Digital India initiative.
To overcome this problem, the government also announced a new programme – Diksha – in which 13 lakh untrained teachers would receive formal training.
Total allocation on education, health and social security has gone up from Rs 1.22 lakh crore to Rs 1.38 lakh crore. In the opening lines of his Budget speech, the Finance Minister said that the government has managed to get children to school but quality of education still remains a concern.
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