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The Interim Budget for the fiscal year 2024-25 has allocated a historic ?73,498 Crore, marking the highest-ever budget allocation for the Department of School Education and Literacy. This substantial increase of ?12,024 Crore (19.56%) from the previous fiscal year (RE 2023-24) underscores the government's commitment to bolstering the education sector.

Among the noteworthy highlights is the unprecedented budget allocation for autonomous bodies like Kendriya Vidyalaya Sangathan (KVS) and Navodaya Vidyalaya Samiti (NVS), receiving ?9,302 Crore and ?5,800 Crore, respectively. KVS witnessed a remarkable increase of ?802 Crore, while NVS received a boost of ?330 Crore from the RE 2023-24.

The flagship schemes have also received a substantial boost, with allocations for Samagra Shiksha increasing by ?4,500 Crore, PM-POSHAN by ?2,467 Crore, and PM-SHRI by ?3,250 Crore compared to the RE 2023-24 figures.

Turning the spotlight on higher education, the Department of Higher Education is set to receive a commendable ?47,619.77 Crore for the fiscal year 2024-25. Of this, scheme allocation stands at ?7,487.87 Crore, and non-scheme allocation is ?40,131.90 Crore, marking an impressive overall increase of ?3,525.15 Crore (7.99%) from the FY 2023-24

Central Universities, IITs, NITs, IISERs, and other prestigious institutions have witnessed substantial budgetary increments, reflecting the government's dedication to fostering excellence in higher education. Notably, the scheme 'Establishment of 3 Centres of Excellence (CoEs) in Artificial Intelligence (AI)' announced in the FY 2023-24 has been allocated ?255 Crore in the current fiscal year.

The government's commitment to research and innovation is evident in the increased allocations for various schemes, including Pradhan Mantri Uchhatar Shiksha Protsahan Yojna (PM-USP), National Apprenticeship Training Scheme (NATS), National Mission in Education through ICT, and Multidisciplinary Education and Research Improvement in Technical Education-EAP (MERITE).

As the government takes significant strides in prioritizing education and skill development, the Interim Budget for 2024-25 reflects a visionary approach to shaping a brighter future for the nation's students and academic institutions.