Realising that implementing Right to Education will need a mammoth outlay of Rs 1.74 lakh crore, HRD ministry has said the proposed National Education Finance Corporation should finance school education as well as government/local bodies to increase enrolment and improve infrastructure.
As per the earlier proposal, NEFC was to finance only higher education but at the behest of HRD minister Kapil Sibal, funding of Right to Education and school education in general was also included as the mandate of NEFC.
Sibal has now written to Montek Singh Ahluwalia, deputy chairperson, Planning Commission, stressing the need for a body like NEFC. The HRD ministry has projected that Rs 1.55 lakh crore would be needed by 2016-17 for higher education to achieve the target of 25% gross enrolment ratio. In case of school education, the projected cost towards civil works, teachers’ salary, child entitlements and teacher training would be Rs 32,000-Rs 36,000 crore annually. Read More >>