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<ul><li>The Indian government released <keyword id="6360189" type="ORGANIZATION" weightage="20" keywordseo="union-budget">Union Budget</keyword> for 2019-20 on 5 July, allocating ₹948 billion to the education sector. </li><li>In 2018, the country allocated ₹850 billion to the education fund, which was increased by 10% in 2019 at ₹938 billion. </li><li>According to government think tank Niti Ayog, India should increase its education expenditure to nearly 6% of GDP over the next four years. </li><li>India reportedly ranks third in terms of education score of BRICS nations.</li></ul>Stressing on improving the quality of education in India, Finance Minister Nirmala Sitharaman announced Union Budget on July 5, allocating ₹948 billion to India’s education sector. Sitharaman announced a ‘Study in India’ programme which will be focussed to bring foreign students to study in India’s higher institutions. This the Minister believes will further promote a greater Indian economy. The government will also ensure industry relevant skill training for 10 million youth in India. The focus will be on building skills in technologies like — Artificial Intelligence, Big Data, Virtual Reality, 3D printing and Robotics. The move will promote higher remuneration among working professionals. To make India a ‘hub of higher education,’ the government will infuse ₹400 crores to build world class institutions, which is three times the revised estimates of the previous year. Regulatory bodies will be reformed to focus on better academic progress of India. In the interim budget, the finance ministry announced a 10% increase in the <keyword id="450079" type="PERSON" weightage="20" keywordseo="education-budget">education budget</keyword>, dedicating a total of ₹938 billion for schools and higher education programmes. In 2018-19, the former Finance Minister, Arun Jaitley allocated ₹850 billion towards the <a href="https://www.businessinsider.in/an-in-depth-analysis-of-indias-education-budget/articleshow/67777731.cms">education fund</a>. The economic survey conducted last year has shown that the government had limited fiscal space to increase spending on education. While the school education budget increased in 2019 with a ₹500 billion fund, the higher education budget allocated for prominent institutions including Indian Institute of Technology (IITs) and Indian Institute of Management (IIM) saw a drop. In the 2017-18, the government provided funds to the tune of ₹818 billion to the education sector, which accounted for nearly 2.7% of the total GDP of the country. The chart above shows that there has been an increase in India’s expenditure on education. However, it is low compared to other countries like China and Mauritius — which spend 3.3% and 5% of their total GDP on education. According to government think tank Niti Ayog, India should increase its education expenditure to nearly 6% of its GDP, over the next four years. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
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 This is necessary to improve the quality of education. India ranks third in terms of education score of BRICS nations (Brazil, Russia, India, China, South Africa). Amongst South Asian countries, India has the second-lowest score in education quality, coming ahead only of Afghanistan. Sri Lanka also ranked much higher than India. The <a href="https://www.indiaspend.com/india-risking-economic-future-by-underinvesting-in-health-education-new-study/">low quality score</a> may be attributed to teacher shortages and improper assessment criteria, according to an Indiaspend report from 2018. See also: <a href="https://www.businessinsider.in/india-draft-national-education-policy-one-common-admission-entrance-test/articleshow/69825504.cms">India may have one common exam for all college admissions-- if the draft National Education Policy is passed</a> <a href="https://www.businessinsider.in/an-in-depth-analysis-of-indias-education-budget/articleshow/67777731.cms">An in-depth analysis of India’s past education budgets</a>

Study in India program to turn the country into an education hub for foreign students

As the anticipation regarding the spending on education is mounting before the presenting of 2019 budget, here is a look at spending on education over the recent past in the country. While allocating the estimated spending on education in 2018 budget, the Finance Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> said education was a priority area for the country. The total funds allocated for education in this budget was Rs 85,010 crores. The budget allocation for education as per the 2018-19 budget was seen less 4% higher than the estimates found in the revised budget of the current year. In 2017-18 budget, Rs 79,685.95 crores was pegged as an outlay for spending on education which was later revised to Rs 81,868 crores. The economic survey presented last year stated that the government did not have enough fiscal space to increase its spending on social sectors which includes education. Talking in a theoretical point of view, we can say that the Union budget is focused mainly on two important areas of education namely integration and fiscal accountability. The finance Minister said in his budget speech, “We now propose to treat education holistically without segmentation from pre-nursery to Class XII.” This will mean that the Union Government is keen on implementing plans to integrate the whole gamut of the school education sector from pre-school to Class XII which implies that we can anticipate a number of mergers of school schemes in future too. The 2018 budget unveiled a new scheme called Revitalizing Infrastructure and Systems in Education or RISE. This scheme is being financed through the restructured higher education financing agency (HEFA). This is a non-banking financial company. It works with an objective of lending low-cost funds to government run higher educational institutions. In the fiscal year 2018, HEFA received a grant of Rs 250 crores during budget allocation. In fiscal year 2019, it is estimated that this lending body will be supported with an aid of Rs 2,750 crores through the budget awaited. Out of the total education outlay for the fiscal year 2019, the school education sector receive a major portion of Rs 50,000 crores. This is Rs 3,000 crores more than the previous revised budget. The remaining Rs 35,010 crores was allotted for the higher education sector. In the school sector, the SA received an allotment of Rs 26,128 crores, which was up from the Rs 23,500 crores in the budget that preceded it. In the same way, RMSA will receive Rs 4,213 crores which is up by Rs 300 crores when compared to the budget earlier to it. The Mid-day meal program received Rs 10,500 crores in the fiscal year 2019 which is an increase of Rs 500 crores from the earlier budget. In the higher education sector, the total budget allocation for IITs was reduced from Rs 8,244 crores to Rs 6,326 crores in 2018-19. The grants to IIMs as well as the University Grants Commission also faced a cut. Though there has been a push of digital education initiatives by the government, budget 2018 had cut the funds allotted for e-learning from 518 crores to Rs 456 crores in the fiscal year 2019. Aurobindo Saxena, vice-president of Technopak says, “Holistic approach of school sector is a good move...on HEFA it would be interesting to see how they want to raise the fund. The capacity of academic institutions to repay loans (taken from HEFA) over a 10-year time horizon will be closely watched."

An in-depth analysis of India’s past education budgets

<ul><li>The Indian government will release the Union Budget for this year on 5 July. </li><li>In 2018, the country allocated ₹850 billion to the education fund, which was increased by 10% in 2019 at ₹938 billion. </li><li>According to government think tank Niti Aayog, India should increase its education expenditure to nearly 6% of GDP over the next four years. </li><li>India reportedly ranks third in terms of education score of BRICS nations.</li></ul>The Indian education system needs an overhaul and it is to be seen if that is indeed high on the agenda of the Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> as she announces Union Budget on July 5. In 2018-19, the former Finance Minister, <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> allocated ₹850 billion towards the <a href="https://www.businessinsider.in/an-in-depth-analysis-of-indias-education-budget/articleshow/67777731.cms">education fund</a>. This year, in the interim budget, he announced a 10% increase in the education budget, dedicating a total of ₹938 billion for schools and higher education programmes. The economic survey conducted last year has shown that the government had limited fiscal space to increase spending on education. While the school education budget increased in 2019 with a ₹500 billion fund, the higher education budget allocated for prominent institutions including Indian Institute of Technology (IITs) and Indian Institute of Management (IIM) saw a drop. In the 2017-18, the government provided funds to the tune of ₹818 billion to the education sector, which accounted for nearly 2.7% of the total GDP of the country. 
 
 
 
 
 
 
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 The chart above shows that there has been an increase in India’s expenditure on education. However, it is low compared to other countries like China and Mauritius — which spend 3.3% and 5% of their total GDP on education. According to government think tank Niti Ayog, India should increase its education expenditure to nearly 6% of its GDP, over the next four years. This is necessary to improve the quality of education. India ranks third in terms of education score of BRICS nations (Brazil, Russia, India, China, South Africa). Amongst South Asian countries, India has the second-lowest score in education quality, coming ahead only of Afghanistan. Sri Lanka also ranked much higher than India. 
 
 
 
 
 
 
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 The <a href="https://www.indiaspend.com/india-risking-economic-future-by-underinvesting-in-health-education-new-study/">low quality score</a> may be attributed to teacher shortages and improper assessment criteria, according to an Indiaspend report from 2018. Therefore, it is necessary for Nirmala Sitharaman to allocate more resources and attention to improving the quality of education in India. See also: <a href="https://www.businessinsider.in/india-draft-national-education-policy-one-common-admission-entrance-test/articleshow/69825504.cms">India may have one common exam for all college admissions-- if the draft National Education Policy is passed</a> <a href="https://www.businessinsider.in/an-in-depth-analysis-of-indias-education-budget/articleshow/67777731.cms">An in-depth analysis of India’s past education budgets</a>

India’s education budget has improved over the years — but it’s still too low

While presenting Budget 2015, <keyword id="6391015" type="UNKNOWN" weightage="20" keywordseo="Finance-Minister-Arun-Jaitley">Finance Minister Arun Jaitley</keyword> had emphasised more on <keyword id="6375224" type="ORGANIZATION" weightage="20" keywordseo="higher-education">higher education</keyword> and skill development. 
 
The government had proposed to set aside Rs. 69,074.76 crore for the education sector, out of which there was an increase in the Higher Education Budget from Rs. 23,700 crore in 2014-15 to Rs. 26,855.26 crore in 2015-16. 
 However, allocation for School Education &amp; Literacy was marginally reduced to Rs. 42,219.5 crore. For <keyword id="2783177" type="UNKNOWN" weightage="20" keywordseo="Budget-2016">Budget 2016</keyword>, experts are looking for more enhancing vocational education requirements. 
 
“Government’s schemes towards providing scholarships to meritorious, economically backward students should be strengthened in higher education. There is also a need to develop more vocational educational requirements of people who are not eligible for higher education,” said Prof. Rupamanjari Sinha Ray, Assistant Professor, MDI, Gurgaon. 
 
Meanwhile, the minister had also announced new IITs and AIIMS-like institutions. Experts say in Budget 2016, they should focus on funding existing institutions and create world-class tech-based classrooms. 
 
“Education is an important social sector and allocation of budget should be increased substantially. Instead of creating more IITs and IIMs in the country, government can strengthen by funding all the existing institutes in terms of quality resources and creating world class technology environment,” said Ray. 
 
For skill development, Jaitley had announced allocation of Rs. 1,543.46 crore to Ministry of Skill Development and Entrepreneurship. 
 
In Budget 2016, experts want more regulation in the education sector and private sector investments in skilling programmes. 
 
“With the focus on Digital India and start-ups, it would be nice to see investments in education and skilling programs to prepare the next generation. There is urgent need to transform bodies such as AICTE that control inputs such as curriculum and infrastructure and replace them with a body that rates “learning outcomes”. We need to attract private capital into higher education and invite ethical companies to invest and earn reasonable returns and ensure high standards in education. In other words we need to remove all controls and replace them with enabling regulation,” said Anil Sachdev, Founder &amp; CEO of School of Inspired Leadership. 
 
It is yet to see how much allocation does Jaitley announces for education sector but there is a need to have more practical learning classrooms. 
 
(Image: Indiatimes)

Experts pin hopes on more allocation for skilling programmes, tech-based learning in Budget 2016

<ul><li>In the union budget for 2019-20, Finance Minister Nirmala Sitharaman announced a <keyword id="1573557" type="ORGANIZATION" weightage="20" keywordseo="National-Research-Foundation">National Research Foundation</keyword> (<keyword id="233051" type="COMPANY" weightage="20" keywordseo="NRF">NRF</keyword>). </li><li>The Indian government will fund, coordinate and promote research in the country, under the initiative. </li><li>The policy will introduce major changes in school and higher education.</li></ul>In the union budget for 2019-20, Finance Minister Nirmala Sitharaman announced a National Research Foundation which will fund, coordinate and promote research in the country. But with a condition – the government will identify the trust areas of ‘national importance’ for the allocation of the funds. The minister said that the new policy will introduce major changes in the school and higher education and boost research and innovation. To accelerate the growth of research studies in the country, the government will now assimilate grants given by independent ministries and integrate the funds to the National Research Foundation (NRF). India’s premier research institutes include Indian Institute of Science (IISc), Indian Institute of Technology (IITs) and Indian Institute of Science Education &amp; Research(IISER) among others. According to the QS World Rankings 2020, IISc was ranked second in the university rankings, globally, for its research facilities. The institute has nearly 100,000 citations in research papers over a period of five years. “The overarching goal of NRF will be to enable a culture of research to permeate through our universities. In particular, NRF will explicitly aim to remove the current obstacles in creating a global quality research ecosystem in the country, Hindustan Times<a href="https://www.hindustantimes.com/india-news/hrd-plans-national-research-foundation/story-lAKZTqcZoUi2jA5LXfAdPM.html"> reported </a>citing experts. Eyeing global expansion, Sitharaman also announced a ‘Study in India’ programme which will be focussed to bring foreign students to study in India’s higher institutions. This the Minister believes will further promote a greater Indian economy.

A new government body will funnel research grants based on whether they are of 'national importance'

Gandhinagar, Feb 26 () No new taxes were proposedin the Gujarat budget for 2020-21, presented by the BJPgovernment on Wednesday, which saw a healthy allocation of Rs31,955 crore for education, Rs 11,243 crore for health and Rs7,423 crore for the agriculture sector.The Rs 2,17,287-crore budget for the next fiscal hasan overall surplus estimates of Rs 275 crore.In the budget presented on the first day of theassembly session, Deputy Chief Minister Nitin Patel, who alsoholds the finance portfolio, proposed to reduce electricityduty for shops and offices, cold storages, religious placesand dharmshalas, giving benefits of Rs 320 crore to them.Patel, who presented the budget for the eighth time,did not propose any new taxes.Of the total budget of Rs 2,17,287 crore, as perestimates, the developmental expenditure is expected to be Rs1,33,283 crore and non-developmental expenditure at Rs 80,400crore.The size of the budget for the next fiscal indicatesan increase of Rs 12,472 crore over the last one.Patel, while presenting the budget, told the Housethat special focus has been placed on health, education, watermanagement, animal husbandry, rural and urban development,agriculture and overall social development.Patel allocated Rs 7,423 crore for the agriculturesector and Rs 31,955 crore for the education department.To encourage cow urine and manure-based farming, acultivator shifting to such agriculture methods will be givenan assistance of Rs 10,800 per year to rear cows, he said.Patel made a provision of Rs 50 crore to cover around50,000 farmers under this scheme.To improve primary education scenario, Patel said thegovernment will construct 7,000 new rooms in state-run schoolswith an estimated cost of Rs 650 crore.On the higher education front, Patel said a provisionof Rs 7 crore has been made to start a School of DefenceStudies at the Gujarat University in collaboration with theDRDO.Similarly, a sum of Rs 12 crore has been allocated toIITRAM (Institute of Infrastructure Technology Research andManagement) to start Department of Advance Defence Technologyin collaboration with the DRDO.Patel alloted Rs 11,243 crore for the health andfamily welfare department.While Rs 450 crore has been allotted for the AyushmanBharat Yojna (a Centre-sponsored health scheme), Patel said Rs27 crore will be spent for purchasing 150 new ambulances.Announcing a provision of Rs 3,150 crore for the womenand child development department, Patel said 'Rann Anganwadis'(child care centres) will be opened in desert areas for thechildren of 1,500 saltpan worker families.He also added that 'mini anganwadis' will be opened incentral jails in major cities.To encourage Gujarati diaspora donors wanting to dosomething for their native places, Patel announced a newscheme called 'Madre Vatan'.Under this scheme, the government will contribute amatching amount of donation given by such donors fordeveloping various facilities such as schools, anganwadicentres, roads, water tanks and ponds.For making Gujarat plastic-free, Patel announced a newscheme wherein rag pickers collecting dry waste and plastictrash will be given financial assistance.Patel said the world's largest hybrid energy park iscoming up at Kutch district. It has capacity to generate25,000 megawatt of electricity per year at one place byharnessing solar and wind energy.To add some more tourist attractions near the Statueof Unity at Kevadiya and nearby areas in Narmada district, aprovision of Rs 387 crore has been made in the budget.Patel proposed a reduction in electricity duty onshops and offices. From the present 25 per cent, Patelproposed 20 per cent levy.While this relief will benefit 30 lakh people, thestate will have to forgo revenue of Rs 320 crore every year.The finance minister also proposed to reduceelectricity duty levied on religious places and dharmshalas.He proposed to reduce electricity duty on religiousplaces from 25 per cent to 7.5 per cent for rural areas and to15 per cent for urban areas.For dharmshalas, which currently pay 25 per cent duty,Patel proposed to slash it to 15 per cent for high-tensionconnections and 10 per cent for low-tension connections. PJT PDRSY RSY

No new taxes in Gujarat budget; focus on education, health

I sat on a chair with a paper in my hand trying to help the girl solve a Class II level double digit multiplication problem. She was shy and did not say much. She tried solving it on the sheet but there was no progress. I gave her hints, patiently waited for her to respond to that. But after a couple of minutes she gave up. Her father kept a close watch on the proceedings, slightly amused at my attempts to draw her attention towards the task at hand. I could see her mother standing at the other end of the kutcha house not very pleased with her daughter’s performance. She had been very proud of the fact that her daughter was in Class VIII in the local government school. Very few girls in the village went to school at this age. This was Chitgunwa, a small village near Jhansi where I had been assigned to conduct a survey on the level of public <keyword id="6355445" type="COMPANY" weightage="20" keywordseo="Education">education</keyword>. 
 As India gets ready for the <keyword id="3206186" type="UNKNOWN" weightage="20" keywordseo="Union-Budget-2016">Union Budget 2016</keyword> amidst all the chaos that has preceded the Parliament session, it is necessary to look at budget from the perspective of that girl child or more importantly her mother. As a student of a business school, I am tempted to write on a number of issues pertaining to Indian fiscal policy which affects the business environment of the country or the startup ecosystem in India. But let me take a different route and list down few areas where adequate budgetary intervention could help the mother and her daughter regain their confidence in the system. 
 
Education is one of the key requirements to convert India’s demography into productive human capital. While enough emphasis has been laid on the access of education resulting in Gross Enrolment Ratio of 104.3% , the quality of education remains dismal. India has been consistently spending close to 4-5% of the total budget on education , but the proportion spent on primary education has been falling since last three years (Exhibit 1). The budgetary allocation for Mid-Day Meal Programme was reduced from INR 13,215 cr (2014-15) to INR 9,236 cr (2015-16) . The spend on the quality of education which includes ‘activities to improve learning, such as learning enhancement programmes and innovation grants’ in Sarva Shiksha Abhiyan and teacher training is also extremely low (Exhibit 2). 
 
India needs a budget where adequate allocation is made to improve the quality of primary education. The first step would be determining the nature and magnitude of quality improvement required. This can be achieved through regular and sound measurement of outcomes. Another area which requires greater budgetary intervention is teacher training. Average teacher training spend was less than an appalling 3% of the elementary education budget over the past 6 years. This needs to change. India’s primary education curriculum has been severely criticised as being over ambitious and unrealistic. This must be reviewed through a comprehensive research exercise. The curriculum must have both academic and vocational components which could address the economics of retention in secondary and higher education. There must be emphasis on innovation and reasoning which could go a long way in eliminating 140 characters of opinion building process. The government started the “Beti Bachao Beti Padhao” scheme through a corpus fund of INR 100cr .There is also a Sukanya Samriddhi Scheme to save for girl child’s education. But we need to do more. A comprehensive action plan with regular evaluation of the outcomes will go a long way in proper implementation of the schemes. This must be backed with adequate financial support through the budgetary allocation. 
 The other area which would matter for the mother and her daughter would be access to <keyword id="6354525" type="COMPANY" weightage="20" keywordseo="Healthcare">healthcare</keyword> and sanitation. The previous budget was disappointing in terms of allocation to the health sector. Public spending on health sector is paltry 1.3% of the total <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> in India . The budget for Integrated Child Development Services (ICDS) was slashed by almost 50% last year3. India also tops the global list with 318 deaths per 1000 children under 5 years of age due to diarrhoea and pneumonia . This is unacceptable for a country that is looking to embark on a path of sustained growth. The government must realize the importance of public healthcare spending and act accordingly. 
 
The focus should be on preventive healthcare as it serves the twin purpose of decreasing the government spending on secondary and tertiary care and the out of the pocket expenditure which results in severe health shocks leading to acute financial distress. India ranks third in the world in the out of the pocket spending on healthcare. The government’s flagship programme Swacch Bharat was criticised by CAG recently for failing to achieve the desired targets due to weak implementation. “Audit clearly reveals the failure of the sanitation programmes in achieving the envisaged target” it pointed out. In FY 2015-2016 INR 3,265 cr was allocated for Swacch Bharat Mission which was 27% hike from the previous year . Although allocations had increased, a large sum of money remained unspent. There are issues at multiple levels – evaluating a scheme on the number of toilets built is flawed. The CAG report mentions “more than 30% of individual household latrines remain non-functional”10. Building toilets is not the solution until focus is shifted on solid waste management system and treatment plants. It is vital to understand the link between front end (toilets) and back end (collection and treatment) so that appropriate resource allocation can be made in the upcoming budget. 
 
India stands at a very crucial juncture in its journey. It has been doing well on certain fronts but a lot more needs to be done. A budget which brings the focus back on education and health is what will make this growth story truly sustainable. 
 
(The article has been authored by Rishabh Raj, Post Graduate student at IIM Bangalore. A Graduate from IIT Kanpur, he has worked for two years in a management consulting firm and one year in the public policy space under a Member of Parliament)

Here's what an IIM student feels the Budget should have, after he met a family in a village near Jhansi

“Make In India”, “Start-up India Movement” or any similar initiative cannot be successful unless we lay a strong educational foundation on which to build it. 
 
The Budget gives us an enormous opportunity to focus on education. 
 
It is a well known fact that India spends far less than the recommended minimum 6% of GDP on education. India spent a little over 3% of GDP on education in 2014-2015, not only lower than the world average, but even far below some of the BRIC countries. While South Africa allocated 6.6% of it GDP in on education, Brazil followed closely with about 6% of its GDP spent on education in 2012. Achieving high rates of economic growth will not translate into development unless we turn our focus strategically towards education. 
 
In 2004, the Indian government introduced an education cess of 2% and added an additional 1% for secondary and higher education in 2009. While a substantial amount of funds have been collected under this tax, the translation of these into progress in the sphere of education is yet to emerge. There is also scope for greater mobilisation of domestic revenue. According to the Education for all Global Monitoring Report, 2014, tax revenue in India in 2011 was 16% of GDP whereas in Brazil it was 24% of GDP and this made the key difference in enabling Brazil to go further than India in improving education quality. In addition to harnessing revenue, there is a need for ensuring transparency in government spending on education, focusing on vocational education, and strategically employing innovations to meet policy objectives. 
 
Education tourism, which refers to travel focused on learning from the location, is an area that could be focused on not just from the point of revenue but with larger objectives. Students from leading business schools now flock to India spend their entire semester here learning how emerging markets function or observing start-ups in India. We should tap into this market to build partnerships that enable us to effectively utilise the students and faculty travelling to India for such tours to promote our own educational goals. 
 
Education bonds in both the public and private sector have been suggested by experts such as Meena Sengupta as a way to deepen the market for investments in education. According to her, tradable education bonds could be used to fund libraries, research, travel grants, student social enterprises and national scholarships. Education bonds are rarely seen in India , even though is entirely logical for education ventures, even if they are not for profit, to increase the range of their funding options by seeking debt in the open market. 
 
The other side to this is social impact bonds, which refer to a new innovation where government enters into a contract with a private sector intermediary for achieving social objectives. The intermediaries are responsible for raising capital from investors, and based on whether the project achieves its objectives, the government repays the investors. The first such bond in India has been launched to improve educational outcomes in Rajasthan. The budget need not be just an exercise in fund allocation, but rather an innovative tool for promoting our development goals, particularly in education. 
 
<a href="http://www.colonialwalletwisdom.com/wp-content/uploads/2014/02/A-529-Savings-Plan-For-College.jpg">Image source</a> 

 
Dr. Anitha Ramanna-Pathak is Assistant Professor at S P Jain School of Global Management. She has a Ph.D. in International Studies from Jawaharlal Nehru University, New Delhi and a post doc from the International Food Policy Research Institute, Washington, D.C., USA. She is also a Fulbright Scholar and was affiliated with Harvard University and the University of California, Berkeley and was C R Parekh Fellow at the London School of Economics &amp; Political Science.

Tradeable Education Bonds, Social Impact Bonds: Can Budget 2016 accelerate India’s education?

<div class="KonaFilter image-container display-table"><div><div class="image on-image">YouTube/House Appropriations CommitteeSecretary of Education Betsy DeVos at a House Appropriations Committee meeting on Tuesday to discuss the 2020 education budget.</div></div></div><ul class="summary-list"><li>Secretary of Education Betsy DeVos has submitted a plan to axe all funding for the Special Olympics in her 2020 budget.</li><li>DeVos told the House Appropriations Committee on Tuesday the Special Olympics is "awesome" but can do without federal funding as it's "well-supported by the philanthropic sector." </li><li>The $17.6 million allocated by government to the event in 2017 accounted for a substantial 12% of funding, with donations making up the rest of the $124 million raised.</li><li>It's the third budget in a row the Trump administration has proposed scrapping funding for the Special Olympics. </li><li>Ultimately, the decision on government funding is made by Congress, so it is not guaranteed that the cuts will be approved.</li></ul>The Trump administration submitted a plan to eliminate all funding for the Special Olympics on Tuesday, saying charity donations can make up the difference.Secretary of Education Betsy DeVos's <a href="https://www2.ed.gov/about/overview/budget/budget20/summary/20summary.pdf">budget proposal for 2020</a> plans to deprive Special Olympic athletes, training facilities, and disabled children's programs of $17.6 million in federal funding if it's approved."The earmark for Special Olympics Education programs would be eliminated," the proposed budget said. All three Trump administration budgets since 2016 have attempted to cut Special Olympics funding.DeVos's plan must be approved by Congress, so it is by no means guaranteed that the funding cuts will take place.<div class="KonaFilter image-container display-table"><div><div class="image on-image">GettyA medal ceremony at the 2019 Special Olympics World Games in Abu Dhabi.</div></div></div>DeVos told <a href="https://www.youtube.com/watch?v=s2BjeJ6RkQs&amp;feature=youtu.be">the House Appropriations Committee on Tuesday</a> the Special Olympics was an "awesome organization" but did not need any government funding it is already "well-supported by the philanthropic sector." Read more: <a href="https://www.businessinsider.com/kamala-harris-school-teacher-pay-increase-plan-2019-3?r=US&amp;IR=T">'Teachers don't need guns, they need a raise': Sen. Kamala Harris deflects skepticism about her $315 billion proposal to increase teachers' pay</a>The Special Olympics gets 12% of its funding ($17.6 million in 2017) from the government, <a href="http://annualreport.specialolympics.org/financials">according to the organization's most recent financial report</a>, with the remainder of the $124 million annual income coming from charity donations. <div class="KonaFilter image-container display-table"><div><div class="image on-image">AP Photo/Carolyn Kaster, FileDonald Trump and Betsy DeVos pose for photographs at Trump National Golf Club in Bedminster in November, 2016.</div></div></div>Congresswoman Nita Lowey (D-NY), Chair of the House Appropriations Committee questioned DeVos at an education subcommittee <a href="https://appropriations.house.gov/news/press-releases/chairwoman-lowey-statement-at-hearing-on-department-of-educations-fy-2020-budget">hearing on Tuesday</a>.In February 2018, DeVos said she would donate a quarter of her $199,700 salary to the Special Olympics, <a href="https://www.politico.com/story/2018/02/14/betsy-devos-salary-charities-347468">Department of Education spokeswoman Liz Hill told Politico.</a>DeVos's broader 2020 Education budget set out a 12% overall funding decrease across education, equating to $8.5 billion.Read more: <a href="https://www.businessinsider.com/kelly-catlin-suicide-highlights-rising-suicide-depression-2019-3?r=US&amp;IR=T">The suicide death of a 23-year-old Olympic cyclist highlights a disturbing trend. Her former coach says we could be doing more.</a>A 14% increase ($60 million) in spending on charter schools is proposed, with several cuts planned to public school funding, including from programs for students with autism and blindness.De Vos <a href="https://twitter.com/BetsyDeVosED/status/1110544096958078976">tweeted</a> the proposed budget "puts the needs of students, parents, teachers, and local leaders first." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/paul-manafort-russia-mueller-probe-prison-fraud-conspiracy-trump-2019-3">Paul Manafort faces over 7 years in prison for conspiracy and obstruction. Here's what you need to know about Trump's former campaign chairman.</a></h3> <div> </div> </div>

Trump administration proposes to end all government funding for the Special Olympics, arguing that private philanthropy will pick up the bill

In budget 2016, the Modi government had pegged a little over Rs 72,300 crore for <keyword id="6355445" type="COMPANY" weightage="20" keywordseo="Education">education</keyword>, a 5% increase year-on-year. 
 It focused on skilling, new <keyword id="81847" type="UNKNOWN" weightage="20" keywordseo="Job-creation">job creation</keyword>, and research-focused higher education which would help in new job creations both in manufacturing and service sector. 
 
Here are some of the highlights to make you abreast of what was promised in education, and where we stand as of now: 
 
*The first two points are the two key education initiatives which were mentioned in last year’s budget.

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Trump administration proposes to end all government funding for the Special Olympics, arguing that private philanthropy will pick up the bill

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