India Budget 2019-20 Proposes to Set up National Research Foundation

The Union Budget 2019-20 presented by India Finance
Minsiter, Nirmala Seetharaman has proposed to implement the New National Education Policy proposes major changes in
school and higher education with focus on better governance systems, focus on
research and innovation.
National Research Foundation (NRF) has been proposed to fund, coordinate and
promote research in the country. It is
meant to assimilate independent research grants given by various Ministries. To strengthen overall research eco-system in the country. This would be adequately supplemented with
additional funds.
Other highlights on education in the Budget
-Rs. 400 crore provided for “World Class Institutions”, for
FY 2019-20, more than three times the revised estimates for the previous
year.
-"Study in India" proposed to bring foreign
students to study in Indian higher educational institutions.
-Regulatory systems of higher education to be reformed comprehensively:
To promote greater autonomy, to focus on better academic outcomes.
-Draft legislation to set up Higher Education Commission of India (HECI), to be
presented. Khelo India Scheme to be expanded with all necessary financial
support.
-National Sports Education Board for development of sportspersons to be set up
under Khelo India, to popularize sports at all levels.
-To prepare youth for overseas jobs, focus to be increased on globally valued
skill-sets including language training, AI, IoT, Big Data, 3D Printing, Virtual
Reality and Robotics.
-Set of four labour codes proposed, to streamline multiple
labour laws to standardize and streamline registration and filing of returns.
-A television program proposed exclusively for and by
start-ups, within the DD bouquet of channels.
-Stand-Up India Scheme to be continued for the period of
2020-25. The Banks to provide financial assistance for demand based businesses.
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