"The committee had sought a three-month extension and we have granted them time till March 31, 2018," Javadekar told reporters.
Headed by former Indian Space Research Organisation (ISRO) chief K Kasturirangan, the panel was set up by the human resource development (HRD) ministry in June and it was supposed to submit its report this month.
The committee had sought the extension, saying it was still holding consultations with various stakeholders and needed time to prepare the final draft.
Apart from Kasturirangan, the committee has eight members, including mathematician Manjul Bhargava and former IAS officer K J Alphonse.
The panel will also take into account the report of a panel headed by former cabinet secretary TSR Subramanian, formed by the HRD ministry during the tenure of Smriti Irani.
The TSR Subramanian panel submitted its report to the government in May 2016, suggesting measures to strengthen the education sector that caters to over 300 million students.
Kasturirangan headed ISRO between 1994 and 2003 and was awarded the country's second highest civilian honour -- Padma Vibhushan -- in 2000.
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