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IIMs

Concerns Rise as Centre Slashes Education Budget in Interim Budget; UGC Funding Takes a Hit

The interim budget for education in India has sparked concerns as the government announced a 7% reduction in allocations, significantly impacting higher education funding. The University Grants Commission (UGC) faced the largest-ever cut of 61% in the last five years, raising apprehensions about the potential repercussions on universities and students. The budget for schools experienced a marginal dip, while central universities witnessed a 28% increase in grants. However, support for Indian Institutes of Management (IIMs) was trimmed for the second consecutive year. The interim budget, presented on Thursday, allocated ₹1.2 lakh crore for education, reflecting a 7% decrease compared to the revised estimate for 2023-24. The UGC, responsible for higher education, bore the brunt of funding cuts, with its allocation reduced from ₹6,409 crore in 2023-24 to ₹2,500 crore in 2024-25. Despite the challenges, Union Finance Minister Nirmala Sitharaman emphasized the government’s commitment to transforming education through the National Education Policy (NEP) 2020. The focus is on empowering the youth during the “Amrit Kaal,” the 25 years leading to 2047. Experts raised concerns over the impact of the drastic UGC budget cut, fearing it might encourage universities to rely on self-financing courses, burdening students and increasing dependence on loans. UGC Chairperson M Jagadesh Kumar reassured a commitment to quality higher education and efficient fund utilization. While the budget for central universities saw a notable increase of 28%, support for IIMs faced a reduction for the second consecutive year, dropping from ₹608.23 crore in 2022-23 to ₹212.21 crore in 2024-25. Union Education Minister Dharmendra Pradhan hailed the budget as a stepping stone towards a “Viksit Bharat” (developed India) and highlighted the “Jai Anusandhan” scheme with a ₹1 lakh crore corpus fund as a significant announcement.

Union Education Minister Promotes Multidisciplinary Focus for IITs and IIMs at Odisha Research Centre Inauguration

Union Education Minister Dharmendra Pradhan revealed that the Centre has advised the IITs and IIMs to take a multi-disciplinary approach, expanding their scope beyond their specialized domains. Speaking at the inauguration of the Odisha Research Centre on November 26, Pradhan emphasized that the National Education Policy, 2020 prioritizes providing multidisciplinary education, and that premier institutions such as IITs and IIMs will follow suit. The Odisha Research Centre was jointly inaugurated during the event by Odisha Governor Raghubar Das, Chhattisgarh counterpart Biswa Bhusan Harichandan, and Minister Pradhan. The research agenda of the center includes art, culture, archaeology, tradition, literature, sociology, political processes, agriculture, commerce, business, industry, contemporary Odisha development trends, science, technology, healthcare, and future technologies. It will also address issues concerning smart cities, climate change, environmental protection, sustainable development, semiconductors, rare earths, and advanced minerals. Minister Pradhan emphasized the significance of the Odisha Research Centre in shaping the region’s future. He stated that the center, which was established in collaboration with the Indian Council of Social Science Research (ICSSR), the Indian Knowledge Systems Division, the Ministry of Education, IIM Sambalpur, IIT Kharagpur, and IIT Bhubaneswar, aims to develop innovative epistemological frameworks. These frameworks will delve into various facets of Odisha’s history, culture, economy, and society. Pradhan concluded with a forward-looking statement, saying, “In 2036, when Odisha will celebrate the centenary of its formation, and in 2047, when the country will celebrate the centenary of India’s independence, the ORC will prepare a roadmap for the development of Odisha and Odia language.” This highlights the critical role that the Odisha Research Centre will play in charting the course for Odisha’s development and promoting the Odia language.