Finance Minister Nirmala Sithraman on Saturday announced the government had allocated Rs 99,300 crores for the year 2020-21.
"We propose Rs 99300 crores for the education sector in 2020-21 and Rs 3000 crores for skill development," Sitharaman said while presenting the second union budget of Modi's re-elected government.
She also said that a New Education Policy will be announced soon, adding that "external commercial borrowings and FDI to be leveraged to improve the education system."
In a major development, she said that full-fledged degree level online courses will soon be offered by the top educational institutions in the country.
"Degree-level full-fledged online education programme to be offered by institutes in top 100 in National Institutional Ranking Framework," Sitharaman added.