Budget 2016 promises 10 public & 10 private institutes to be made world-class

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union-budget-2016-education-indiaNew Delhi: Calling education as one of the nine pillars of the union budget 2016, India's finance minister, Arun Jaitley announced that 10 public and 10 private educational institutes would be taken to premier ("world-class") level.

Other important announcements made in the union budget for 2016 - 2017, that are relevant to the education sector and to the youth of India:

  • Kaushal Vikas Yojna - More than 1 crore youth to be taught various skills in 3 years, 1500 skill development centres to be set up at the cost of Rs.1700 crore.

  • A non-banking financial company to be set up with initial financing of Rs.1000 crore that can give low-interest/ interest-free loans to students/ colleges.

  • 62 Navodaya Vidyalayas will be established under Sarva Siksha Abhiyan in the next two years.

  • Easy & secure storage of important documents like the school leaving certificates, diplomas, degrees, mark-sheets etc. through a digital depository (online storage.)

  • Open/ online courses teaching entrepreneurship will be given in 2200 colleges, 300 schools, 500 government ITIs and 50 vocational training centres.

  • 100 "model career centres" will be made operational by the end of 2016-17
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