Budget 2024-2025 : Govt gives 203% more budget to education
Description:
The Education Ministry will get Rs. 25.75 billion or 203 percent higher budget for 2024-25 than Rs. 8.5 billion in the 23rd financial year. According to the federal budget, 2024-2025 ,the government allocated 66.3 billion to the Higher Education Commission, which is 11 percent more than Rs. 59.7 billion in the current fiscal year.
The government has allocated Rs. 103.781 billion euros for educational matters and services in 2024-2025. In the Federal Budget for the year, considering the revised Rs. 103.684 billion in the current financial year, which means an increase of less than one percent (0.9 percent). In the 2024-2025 budget, 79.312 billion euros are earmarked for higher education and services, that is 76.5 percent of the total allocation for this heading.
The government has allocated Rs. 5.224 billion for pre-primary and basic education in 2024-25 against Rs. 4.468 billion in 2023-24, Rs. $12.624 billion is earmarked for postsecondary education and services in 2024-25. 10.778 billion in 2023-24, Rs. 4,497 crore from the administration compared to the revised Rs. 2.844 billion in 2023-24.Since the 18th constitutional amendment, education as a department has been transferred to the provinces and higher education is mainly funded by the federal government.
According to the budget documents, Rs. 66.315 billion euros have been reserved under the Public Sector Development Program (PSD).
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