Budget 2019: FICCI suggests raising fund allocation on education

Federation of Indian Chambers of Commerce and Industry (FICCI) suggested to raise fund allocation in several aspects of school and higher education in the upcoming Union Budget 2019.

FICCI suggested to raise fund allocation in several aspects of school and higher education in the upcoming Union Budget 2019. Image source: @ficci_india twitter

Federation of Indian Chambers of Commerce and Industry (FICCI) suggested to raise fund allocation in several aspects of school and higher education in the upcoming Union Budget 2019.

For boosting school education, FICCI suggested creation of Rs. 1,000 crore 'state policy reform refund' to encourage states for better implementation of measures such as merit-based and transparent teacher recruitment and promotions in schools.

It suggests autonomous specialised research and training institutes with focus on areas like standardized assessments, leadership and pedagogy, etc. and 50 per cent increase in spending on the teacher education scheme.

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FICCI asked government to allot 10,000 crore per year for making smart devices available to students and teachers, under 'Sarva Shiksha Abhiyan'. It advised to build technical capacities of existing central institutions such as NCERT, NUEPA, IGNOU, CIET and NIOS.

"Rs 10,000 crore should be allocated over three years to create five million scholarships, at Rs 20,000 each for admission in HEIs for all students whose parental income is less than Rs five lakh per annum, irrespective of gender, religion, caste or any other identity," FICCI said in the memorandum.

The business organisation, FICCI said, Rs. 1000 crores per year should be allocated to network all public and private institutions. FICCI advised to allot Rs. 500 crore over three years to set up a National science, Humanities and Technology Research Foundation to fund research and to make higher educational institutions free to set up campuses.

FICCI said, "New or existing educational institutions making a fresh investment of Rs. 75 crore or above should be eligible for a preferred and long term loan facility."

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Budget 2019 Federation of Indian Chambers of Commerce and Industry (FICCI)Economy