NEP funding and the future of the education system in India

Implementation and funding of NEP 2020 is a significant feat to achieve in the long run with its impact on schooling and upbringing 

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Funding for NEP

Education has always been a significant aspect of governance in any nation. Be it the developed or developing countries, education is viewed as a tool to shape individuals not only as citizens of a nation but also as individuals aiming for an all-around holistic development. 

Following the formulation of NEP 2020 after the 1986 Education policy act in India, stringent efforts are put in to implement the alterations vehemently. Finance and funding are an integral part of public investment. It is further necessitated by factors from which benefits can be obtained both in materialistic as well as non-materialistic terms. The annual budget of 2023-24, promises that the Education Ministry is allocated an amount of 1,12,899.47 crores in pursuit of implementing the NEP 2020. As per directives from the government, it is the highest-ever allocation, almost 8% higher compared to previous years.

It is believed that increased fund allocation will surely accelerate the implementation of NEP. The New Education Policy is an effort towards the capacity building of the nation, generating more human capital, and focusing more on creating value and skill assets through various extracurricular activities. Keeping these things in mind, it aims for an India that will grow into a knowledge-based economy and effectively imply further dividends for employable students.

With more emphasis on IT education and skill development as focus areas, funding will eventually follow suit. Thus, budget proposals have been made accordingly. According to the government directives, skill development, training of teachers, future readiness of learners, and most importantly greater accessibility of learning content are considered essential. These are a few attempts among many toward certain progressive initiatives and reforms.

Gender Inclusion Fund

With growing endeavors for inclusivity in all spheres, education ought not to be left out. Efforts will be put in to ensure that all girl children as well as transgenders are equal beneficiaries of the implementation of the NEP. Since inclusivity is an essential tool to ensure equality, further emphasis, and endorsement on the same on behalf of the government will be an extremely welcoming feat. Special economic zones for disadvantaged groups and regions are also created to serve the purpose of education. These provisions are stated under Samagrashiksha 2.0 thus allocating dedicated resources to SEDGs.

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Future discourse

One of the most challenging feats underlying at present is the extension of implementing this policy and the proper allocation of funds in dedicated areas of higher education. Substantial public investment in education both by central and state governments ought to be met. Often reports surfaced in the media ascribing to a lack of proper funds or inefficient distribution of funds. Unwarranted perpetrators in the middle pose a serious challenge. Thus, proper funding in both academic and extracurricular aspects would surely assure a better education atmosphere in the nation as well as bring in investments from global institutions and a developed public education system.

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