In its revised budget estimates for the financial year 2014-15, the government is planning to slash Rs. 3,900 crore from the higher education segment. The government has decided to revise the figure of budget to be Rs. 13,000 crore, as against the Rs. 16,900 crore for the plan allocation. This revision is going to hit the newly proposed 8 IITs, which are scheduled to have their permanent campuses by this academic year.
The government has slashed Rs. 163 crore from the allocated Rs. 2,500 crore for the 16 IITs in the country and has provided Rs. 2,337 crore to them for the year 2014-15. An official said that the reduction of 163 crore will affect the new IITs as the HRD ministry will not be able to disburse the funds for the final phase of construction of their new campuses.
Further, the IITs would have to bear the burden of Rs. 150 crore due to the recent hike in junior and senior research fellowships that have been increased from Rs. 16,000 to Rs. 25,000(JRF) and Rs. 18,000 to Rs. 28,000. The government has also cut the budgets of five IITs and five IIMs that were announced in the last budget session at the Parliament. These were allocated a total of Rs. 500 crore, of which they would only get Rs. 65 crore.
For other schemes and programmes the slash has shown its effect as well. The Massive Open Online Courses programme (MOOCs ) which was allotted a funding of Rs. 100crore would now get only Rs. 5 crore. The allocation for the Madan Mohan Malaviya National Mission on Teachers Training which was allotted Rs 100 crore, would now get only Rs 15 crore.
The Rashtriya Uchha Siksha Abhiyan, which was planned to improve the overall quality of higher education of the country, would now receive only Rs. 397 crore as against its proposed Rs. 2,200crore in the original budget.
- The government is planning to slash Rs. 3,900 crore from the higher education segment in 2014-15 financial year
- This revision is going to hit the newly proposed 8 IITs
- Education sector will get a hit with the slash down of the budget