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The Centre has allocated Rs 1.13-lakh crore for the education sector in the Union Budget 2023-24, raising the projected expenditure on school and higher education by around 8.3 per cent compared to 2022-23. In the budget allocation for school education, there has been an overall increase of Rs 9,752.07 crore (16.51 per cent), and for higher education, an amount of Rs 44,094.62 crore has been made as compared to Rs 40,828.35 crore in RE 2022-23, an increase of 8 per cent. The budget also reserved Rs 4,000 crore for the government Pradhan Mantri Schools For Rising India (PM-SHRI) plan. It will transform more than 14,500 schools across the country into exemplary schools.
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