The country’s education sector is going to receive four times higher fund allotment during the 12th five year plan (2012-2017) period. The government aims to spend R4.13 lakh crore on higher education during the 12th Plan period whereas in the previous plan the sector had received only R84, 943 crore. As per MHRD, majority of the funding would be used to set up new institutions and expanding the existing ones. The list includes state universities, general degree colleges and professional and technical educational institutions.
In the previous plan period, the share of education in the total plan outlay correspondingly increased from 7.7 per cent to 19.4 per cent. Thus, around 50 per cent of the 11th plan outlay was devoted for elementary education and literacy, 20 per cent for secondary education and 30 per cent for higher and technical education.