Budget 2024 today; Recap of interim education budget; when, where to watch LIVE streaming
Education Budget 2024: Finance minister Nirmala Sitharaman will present her 7th straight budget today at 11 am. All you need to know about the education budget before the speech.
Union Budget 2024 to be present today. (Image: Finance minister Nirmala Sitharaman)Anu Parthiban | July 23, 2024 | 08:17 AM IST
NEW DELHI: Union finance minister Nirmala Sitharaman will present the 7th consecutive Union Budget 2024 today while giving a glimpse of 10 years’ performance of the BJP-led government. Spotlight will be on education, health and much-anticipated tax relief for the middle class. While the education sector still hopes for 6% of Gross Domestic Product (GDP) allocation to the public education system, the minister during interim budget on February 1 announced a total budget outlay for school and higher education for the financial year 2024-25 as Rs 1,20,627.87 crore, a 6.84% increase compared to last year.
Nirmala Sitharaman, who would be presenting her seventh straight budget, had in her first Budget in 2019 replaced the leather briefcase – which had been in use for decades for carrying Budget documents – with a traditional 'bahi-khata' wrapped in red cloth. This year's Budget 2024 would be paperless, as done in the last three years.
A day before the education budget 2024, the Union finance minister tabled the Economic Survey 2023-24 in the Parliament which stated that the school education system in India, with public and private schools, caters to around 26 crore students from various socio-economic backgrounds.
The ministry highlighted how the National Education Policy, launched in 2020, seeks to provide all learners in the age group of 3-18 years with access to high-quality education and has the potential to establish India as a global knowledge superpower.
When will the budget be presented in 2024
The finance minister will be presenting the Union Budget 2024-25 on July 23, 2024 at 11 am. Viewers can tune into the following links to watch live streaming of the Union Budget 2024-25 presentation.
Press Information Bureau’s official X account - @PIB_India
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YouTube - Click here
Highlights of Interim Budget 2024
The total budget outlay announced for the education sector in the interim budget is Rs 1,20,627.87 crore. School education has been allocated Rs 73,008.10 crore, a marginal increase of 6.11%, of which a whopping Rs 4,200 crore increase has been claimed by the PM SHRI.
For higher education, Rs 47,619.77 crore has been allocated, which is an 7.4% increase compared to the previous year.
Financial Year | Total education ministry budget (in Rs crore) | Higher education budget (in Rs crore) | Budget estimate (In Rs in crpre) |
2020-21 | 99,300 | 39,466.52 | 59,845 |
2021-22 | 93,224.31 | 38,350.65 | 54,873.66 |
2022-23 | 1,04,277.72 | 40,828.35 | 63,449.37 |
2023-24 | 1,12,899.47 | 44,094.62 | 68,804.85 |
2024-25 | 1,20,627.87 | 47,619.77 | 73,008.10 |
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