The PM POSHAN scheme received a boost in funding, with an increase from Rs 11,600 crore in 2023-24 to Rs 12,467.39 crore in 2024-25.
In the February release of Union Budget 2024, Finance Minister Nirmala Sitharaman emphasized the growth of higher educational institutions and the rise of women in STEM courses over the past decade. She attributed these developments to the impact of the National Education Policy (NEP) 2020.
Surprisingly, the funding for UGC was reduced by 60.99 percent, dropping to Rs 2,500 crore from the previous year’s revised estimate of Rs 6,409 crore. Conversely, there was a significant increase in grants for central universities, with Rs 15,928 crore allocated for the financial year 2024-25, marking an increase of over Rs 4,000 crore.
The Finance Minister’s remarks highlighted the positive effects of the National Education Policy (NEP) 2020 on the growth of higher educational institutions and the increased participation of women in STEM courses. However, the reduction in funding for UGC by 60.99 percent to Rs 2,500 crore and the substantial increase in grants for central universities to Rs 15,928 crore for the financial year 2024-25 were unexpected developments in the Union Budget 2024.