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Finance Minister Nirmala Sitharaman shared that the Skill India Mission has trained 1.4 crore youth and upskilled and reskilled 54 lakh youth to date, as she presented the interim Budget 2024 on Thursday.

The finance minister added that the Skill India Mission, launched in 2015, has established 3,000 new Industrial Training Institutes.

In addition, a large number of new institutions of higher learning, including 7 Indian Institutes Of Technology (IITs), 16 Indian Institutes of Information Technology (IIITs), 7 Indian Institutes of Management (IIMs), 15 All India Institutes of Medical Sciences (AIIMS), and 390 universities have been set up.

“Several youths are ambitious to get qualified as doctors. They aim to serve our people through improved healthcare services,” Sitharaman noted.

“Our government plans to set up more medical colleges by utilising the existing hospital infrastructure under various departments. A committee for this purpose will be set up to examine the issues and make relevant recommendations,” she added.

The finance minister also highlighted that female enrolment in higher education has gone up by 28% in 10 years, and in STEM courses, girls and women constitute 43% of enrolment—one of the highest in the world.

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“FM’s comprehensive strategy focuses on education and skill enhancement, with Skill India achieving remarkable milestones. Increased women’s participation in STEM fields contributes to India’s goal of becoming a talent superpower,” Mayank Kumar, Co-founder and MD of upGrad, said.

“Our prosperity depends on adequately equipping and empowering the youth. The National Education Policy (NEP) 2020 is ushering in transformational reforms,” the FM remarked.

The NEP, which replaced the National Policy on Education, 1986, was approved to make way for large-scale, transformational reforms in both school and higher education.

The FM also said that the upgradation of Anganwadi centres under ‘Saksham Anganwadi and Poshan 2.0’ will be expedited for improved nutrition delivery, early childhood care and development.

The 2024-2025 Budget estimate for PM Schools for Rising India (PM SHRI), which aim to deliver quality teaching as well as nurture holistic and well-rounded individuals, is marked at Rs 6,050 crore.

The outlay for education for FY25 is estimated at Rs 1,24,638 crore. The allocation is higher than the 2023-2024 Budget estimates for education, which was Rs 1,16,417 crore, while the revised estimates for education were Rs 1,08,878 crore.

In last year’s Budget, the finance minister unveiled various schemes for the education sector—including Pradhan Mantri Kaushal Vikas Yojana 4.0 to provide skills in new-age courses to youth, National Digital Library for children and adolescents, and District Institutes of Education and Training for teachers.