Budget 2020: Education budget increases to 99,300 crores. The dedicated budget for skill development is 3000 crores.
99,300 crores have beeen allocated in the education sector by the Finance Minister Nirmala Sitharaman. This includes 3000 crores for skill development. Compared to last year, this is a 4500 crores raise.
Around 260 million people in the country enroll in different courses each year. Around 60 million do not have access to education, according to the information provided by Right to Education Forum. This shows that the education system needs a serious revamp.
The other interesting initiatives from the government include an India-SAT exam for other country students – Asia and Africa.
One of the core reason for high unemployment in India is poor educational quality currently in the country. The total employment has declined by 9 million since 2017. As of July 2019, 1.5 million people gained skills and jobs due to the country’s Skill India Mission. This accounts only for 21% of the total trainees, 7.2million a total of who enrolled for the program.
“Also, the unemployment is due to huge number of dropouts, imbalance of supply of skills and demand and the high aspirations of the young people” – K.P.Krishnan, former secretary of Ministry of Skill Development and Entrepreneurship.