Interim Budget: UGC Budget Share Slashes To Half; Increase In Central Universities Grants
The University Grants Commission (UGC) was allocated Rs. 2,500 crores in the Interim Budget for the fiscal year 2024–25, which was presented on February 1. This amount represents less than 50 percent of the Rs. 5,360 crores allotted the previous year.
However, Central Universities saw a 28 percent increase in allocation. With the reduction in UGC allocation, the grants to central universities grew by over Rs 4,000 crore with Rs 15,928 crore allocated for FY 2024-25.
Writing for ET Government, UGC chairman, Mamidala Jagdeesh Kumar expressed commission’s pleasure to see a rise in allocations for Central Universities, deemed universities promoted by the central government, research and innovation initiatives.
He did not mention the allocation cut to the commission. UGC chairman also praised the budget for being more inclusive and for providing opportunities and innovation.
The Education Ministry’s budget share, in 2024-25, increased by 6.8 per cent to Rs 1,20,628.87 crore in comparison to Rs 1,12,899.47 in the financial year 2023-24.
Budget allocation for Institutions of Eminence (IoE), under the ‘World Class Institutions’ goes up to Rs 1,800 crore from Rs 1,500 crore in 2023-24. The budget of IITs has also seen a marginal cut from Rs 10384.21 crore to Rs 10324.50. Similarly, budget allocation of Indian Institutes of Management (IIMs) has also been reduced for the second consecutive year.
For Samagra Shiksha Abhiyan the budget allocation sees a marginal allocation by Rs 46.5 crore, from Rs 37,453.47 crore to Rs 37,500 crore in 2024-25. Allocation for school education has seen an upward growth by over Rs 500 crore. For Kendriya Vidyalya Sangathan the allocation had increased by 9.33 per cent and for Navodaya Vidyalaya Samiti by 1371.50 crore. Notably, government is planning to bring the Higher Education Commission of India as a new regulating body.
