In his budget speech, Finance Minister Arun Jaitley announced allocation of Rs 46,356.25 crore to Department of School Education and Literacy and Rs 33,329.70 crore to department of Higher Education.
"An Innovation Fund for Secondary Education will be created to encourage local innovation for ensuring universal access, gender parity and quality improvement. This will include ICT-enabled learning transformation. The focus will be on 3,479 educationally backward blocks," he said in budget speech.
"Access to SWAYAM would be widened by linkage with DTH channels, dedicated to education," Jaitley added.
HRD Minister Prakash Javadekar hailed the budget as "revolutionary" and referred to it as a budegt for "Better India".
"This is a revolutionary budget, budget which is development-oriented, budget which honours honest tax payers #BudgetForBetterIndia," he tweeted.
The Centre also announced that there will be a restructuring of UGC to ensure greater autonomy for institutions and with an aim of granting autonomous status to more colleges in the country.
Announcing the establishment of a separate agency for conducting entrance examinations, Jaitley said, "we propose to establish a National Testing Agency as an autonomous and self-sustained premier testing organisation to conduct all entrance examinations for higher education institutions."
"This would free CBSE, AICTE and other premier institutions from these administrative responsibilities so that they can focus more on academics," he added.
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