Union Budget: Plan to make youth more skilled, new IITs, IIMs on the anvil
While emphasising on need to have world class university, the Minister said, "The country needs a large number of centres of higher learning which are world class".
Rs 500 crore allocated to set up five more IIMs and IITs
Keeping youth in mind, Finance minister also budgeted for innovative mediums like virtual class rooms for online education and allocated an amount of Rs 100 crore for the same. Budget also underscored the plan to make youth skilled one through multi-school program and entrepreneurial skills. On Wednesday, the economic survey had also earmarked the same point.
"Demographic advantage is unlikely to last indefinitely. Therefore, timely action to make people healthy, educated, and adequately skilled is of paramount importance", the Survey said.
Earlier in 2013-14 Budget, the erstwhile government had allocated Rs 1000 crore for youth skill development programmes.
Youth-World's largest workforce
India
has
one
of
the
largest
workforces
in
world
in
terms
of
youth.
According
to
an
estimation,
nearly
two
third
of
Indians
are
below
the
age
of
35
years,
which
is
matter
of
envy
for
other
developing
countries.
If
harnessed
properly
they
will
be
crucial
for
country's
growth
and
economic
development.
More
youth
means
better
income
and
higher
saving
rates
which
will
ultimately
bring
higher
growth.
The
government
has
also
proposed
to
open
five
All
India
Institutes
of
Medical
Sciences
(AIIMS)
in
the
country
and
a
Jai
Prakash
Narayan
National
Centre
for
Excellence
in
Humanities
in
Madhya
Pradesh.
The
Minister
also
proposed
setting
up
of
a
sports
university
in
the
country.
In
an
attempt
to
harness
demographic
dividend
and
providing
them
employment
opportunity,
FDI
has
been
cleared
in
Defence
and
insurance
sector.
Earlier,
it
was
26
per
cent
in
both
the
sectors
but
now
it
has
been
increased
to
50
per
cent.
Education:
A
comparison
of
Budget
2013
and
Budget
2014
Elementary
education
also
got
a
big
push
in
the
maiden
Budget.
Describing
it
as
one
of
big
priority
for
Government,
an
allocation
of
Rs
28,
635
crore
was
given
for
the
Sarva
Shiksha
Abhiyan
(SSA)
in
comparison
to
allocation
of
Rs
27,
258
crore
in
Budget
2013-14.
Another
programme
named
the
Rashtriya
Madhyamik
Shiksha
Abhiyan
(RMSA)
was
allocated
Rs
4,
9,
66
crore
in
comparison
to
Rs
3,
983
crore
allocated
in
the
previous
year.
To
equip
teachers
in
a
better
way,
an
allocation
of
Rs
500
crore
done
for
Pandit
Madan
Mohan
Malviya
New
Teachers
Training
Programme
in
the
Budget
2013-14.
Government has put up a visionary Budget which is really a laudable one but now bigger task is to implement all these schemes and programmes. In every Budget, tall promises are being made but that proves futile on ground reality. As Prime Minister Narendra Modi is at helm this time, hopefully things will definitely improve.