Skill improvement hogs the limelight

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With announcement of the Union Budget 08-09 by the FM, P Chidambaram, the education industry is experiencing a high. This budget promises a world-class skill development programme in mission mode through a non-profit corporation. About Rs 15,000 crore will be raised as capital from governments, public and private sectors, and bilateral and multilateral sources. To begin with, the FM proposed to put Rs 1,000 crore as government’s equity in the proposed non-profit corporation.

Dhiraj Mathur, ED-partner, PwC, said, “Skill development is a very important initiative from the government and shows its focus to overcome major problems like unemployment and quality retention. “

The budget also brings in an increased allocation (including NER) of 20% from Rs 28,674 crore in 2007-08 to Rs 34,400 crore in 2008-09. Of this, Sarva Shiksha Abhiyan will be provided Rs 13,100 crore; the Mid-day Meal Scheme will be provided Rs 8,000 crore; and secondary education will be provided Rs 4,554 crore.

Karthik KS, CEO, 24x7 Learning, says, “Increase in the budget to 34,400 crore will surely help boost this sector. Though the budget was not forthright in how this amount is going to be spent.”

About Rs 650 crore will be invested to establish 6,000 high quality model schools that will be started in 2008-09. The government will establish 16 central universities in each of the hitherto uncovered states and has proposed to set up three IITs in Andhra Pradesh, Bihar and Rajasthan; two IISERs at Bhopal and Thiruvananthapuram; and two Schools of Planning and Architecture at Bhopal and Vijaywada.

A special grant of Rs 100 crore each has been made to three institutions of excellence— Mahatma Phule Krishi Vidyapeeth, Rahuri, Maharashtra; University of Mysore, Mysore; and Delhi University, Delhi.