Budget allocation for higher education up by 6%, highest ever: Education Ministry

The Budget allocation for the higher education department in 2024-25 has increased by more than 6% from last year to over Rs 47,600 crore, the Union Ministry of Education said on Wednesday.

The clarification from the ministry came following reports that the Budget allocation for higher education has decreased this year.

“The budget for Department of Higher Education for the Financial Year 2024-25 is Rs 47,619 crore, an increase of Rs 2,875 crore (6.43%) over RE 2023-24,” it said.

The ministry noted that the Statement of Budget Estimates (SBE) issued by the Union ministry of finance stated that the Revised Estimate for the department in the last financial year was Rs 57,244 crore, which indicated a decrease in the Budget Estimate this year by over Rs 9,600 crore.

“The notes to the Budget statement indicate that an additional amount of Rs 12,500 crore was transferred to Madhyamik and Uchhatar Shiksha Kosh (MUSK) during RE 2023-24,” it said.

“Thus, an amount of Rs 12,500 Cr has been provided in RE 2023-24 which was not to be actually utilized during FY 2023-24. Therefore, the actual RE allocation in the FY 2023-24 for higher education was Rs 44,744 crore,” the ministry added.

The Budget allocation for school education is Rs 73,498 crore, the highest-ever for the Department of School Education and Literacy, registering an increase of more than 19% over last year.