The Union government is gearing up to announce a new education policy by 2030, as India is set to have “the largest working-age population in the world.”
Not only do they need literacy but they need both job and life skills. Dialogues have been held with State Education Ministries, Members of Parliament and other stakeholders about the education policy. Over two lakh suggestions were also received, said Union Finance Minister Nirmala Sitharaman.
Sitharaman, in her Budget, has stated about the greater inflow of finance to attract talented teachers, innovate and build better labs. “Therefore steps would be taken to enable sourcing External Commercial Borrowings and Foreign Direct Investment (FDI) so as to be able to deliver higher quality education,” she said.
While there is an emphasis on attracting more FDI in the higher education center, there has been a negligible increase in the Higher Education budget. While the Higher Education budget stood at ₹38,717.01 crores in 2019-20 allocation, in 2020-21 it has been marginally hiked to ₹39,466.52 crores.