Budget 2024: How Is This Years Education Budget Different From Last Year’s

The Budget allocation for education, employment and skilling this year is Rs 1.48 lakh crore. The highest allocation of Rs 73,498 cr has been given to the Department of School Education and Literacy. This department has received an overall increase of Rs 12,024 cr (19.56%) in its budget this year. 

The highest ever budget allocation may be seen in the autonomous bodies of KVS and NVS at Rs 9,302 crore and Rs 5,800 crore respectively. Allocation in KVS has increased by Rs 802 crore while allocation in NVS has increased by Rs 330 crore w.r.t 2023-24.

Budget Allocations in Flagship Schemes have also increased this year. Schemes such as Samagra Shiksha have received increased budget by Rs 4,500 cr, PMPOSHAN by Rs 2,467 crore and PM-SHRI by Rs 3,250 crore as compared to 2023-24.

Out of the overall budget allocation in FY 2024-25 of Rs 73,498 crore, the scheme allocation is Rs 57,804 crore and non-scheme allocation is Rs 15,693 cr. Increase in scheme allocation is by Rs 10,846 cr and non-scheme allocation has been increased by Rs 1,177 crore as compared to RE 2023-24.

The Department of Higher Education has received an overall Budget Allocation of Rs 47619.77 cr in FY 2024-25. There has been an overall increase of Rs 3525.15 Crore (7.99%) in the budget allocation of the Department of Higher Education this year.

Allocation in Central Universities has been kept at Rs 15,928.00 cr, i.e., Rs 4314.03 cr more than the allocation in 2023-24.

Deemed Universities have been allocated Rs.596 cr in 2024-25, which is Rs.96 cr more than BE 2023-24.

IITs have been allocated Rs 841.00 cr more than the allocation in 2023-24.

For NITs, the budget has been increased by Rs 219.40 crore in r/o BE 2023-24.

In Indian Institutes of Science for Education and Research (IISERs) the allocation has been increased by Rs.78 cr in r/o BE 2023-24.

Support to Indian Institute of Science (IISc) have been increased by Rs 60.37 crore more than allocation in BE 2023-24.

In the scheme ‘Multidisciplinary Education and Research Improvement in Technical Education EAP (MERITE)’, an allocation of Rs. 200 cr has been made in FY 2024-25, a 100% increase over the allocation in 2023-24.