The Union Finance Minister Arun Jaitley on 1 February 2017 presented the Union Budget 2017 in the Lok Sabha. In the independent India, this will be the 87th budget and the third of the Modi Sarkar.
The Budget 2017 is also unique in the sense that it is the first budget after introduction of three key changes to the budget process viz., merging of the Railway Budget with the General Budget, Doing away with the classification of plan and non plan expenditure and most importantly advancing the budget presentation date by one month.
The Budget 2017 has identified 10 areas to transform the economy.
Highlights of Education, Employment and Skill Development
• Quality education will energise our youth.
• Annual Learning Outcomes will be the criteria for allocation of resources.
• Emphasis on science education.
• Innovation fund for secondary education to encourage local innovation including ICT enabled transformation.
• Focus on educationally backward areas
• UGC reform will be under taken.
• Revised framework for outcome based accrediation.
• SWAYAM to online courses. Access will be widened with DTH channel.
• National Testing Agency an autonomous will be created.
• AICTE will focus on administration..
• PM Kaushal Kendras will be extended to more areas.
• In 2017-18, SANKALP programme will be launched.
• Focus will be on vocational training.
• Industry Cluster Approach will be adopted.
5 Special Tourism zones will be set up.