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July 05, 2019 Friday 04:12:39 PM IST

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

Nirmala Seetharaman, Finance Minister with Anurag Singh Thakur, Minister of State for Finance

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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