Centre needs Rs 2.3 lakh crore to fund RTE initiative

April 14, 2012

rti

New Delhi, April 14 : With the Supreme Court bringing all recognized schools under the Right to Education (RTE) Act, the government will have to boost spending on its flagship programme to meet the estimated Rs 2.3 lakh crore needed to fund the initiative over 2010-2014.

RTE has been plagued with fund shortfalls with budgetary provision in the last two years being only half of what was estimated. The HRD ministry received Rs 21,000 crore in 2011-12 instead of Rs 43,903 crore. The allocation has gone up only marginally to Rs 25,000 crore in the current 2012-13 budget.

The estimated Rs 2.3 lakh crore, to be shared between Centre and states according to a 65:35 ratio, is also expected to go up as it does not include subsidy the government is to pay private schools to implement a 25% quota for economically disadvantaged students.

The RTE incorporates the successful Sarva Shiksha Abhiyan (SSA) and the ministry had estimated it would need an allocation of Rs 48,000 crore in the current fiscal. Initially, the government had calculated that it would need Rs 40,500 crore in the first year of implementation.

According to educationist Vinod Raina, a key member of the RTE team, "RTE in general suffers from a financial crunch and there has also been a problem of states not being able to spend the funds allocated. There have also been constraints of teacher shortages.''

While RTE rollout has been hampered by a resource crunch and infrastructure bottlenecks for which the government has not always been to blame, targets set for UPA's ambitious programme of social inclusiveness have not been met. The erosion of gender imbalances and reduction of dropout rates are still lagging targets.

Implementation of RTE targets still needs 12 lakh teachers and HRD minister Kapil Sibal has said six lakh posts have been sanctioned that need to be filled. RTE sets an ideal 30:1 student-teacher ratio for primary schools.

The overall annual dropout rate for 2009-10 was 9.1% and this has improved to 6.8% in 2010-11. Total enrollment has increased to 13.52 crore from 13.34 crore in the same period. But worryingly dropout rates have increased in states like Tamil Nadu, Gujarat, Madhya Pradesh, Haryana, Mizoram, Sikkim and Tripura.

There are about 1.29 million elementary schools in the country. Besides funding, shortage of teachers is a crucial hurdle to implementing the Act. According to the ministry, 43% of government schools have a pupil: teacher ratio of more than 30:1. About 9% schools are run by single teachers, while 20% have teachers without professional qualifications. There is an estimated shortage of 12 lakh teachers in eight states, and the worst affected include UP, Bihar and West Bengal.

A recent PAISA report by Accountability Initiative has seconded the government's estimate that allocations to teachers, including salaries, training and teaching inputs such as teacher learning equipment, accounted for the largest share of the SSA budget.

In 2011-2012 teachers accounted for 44% of the budget. School infrastructure made up for the second largest share with a total allocation of 36%, while children (entitlement and special programmes) accounted for 10%.

While per child allocation has doubled from Rs 2, 004 in 2009-1010 to Rs 4, 269 in 2011-2012 the report says that a matching increase in quality parameters is absent. Raina says staggered targets depending upon progress of each state may be the answer to effective implementation.


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Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

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News Network
June 13,2020

Dehradun, Jun 13: Chief of Army Staff General M M Naravane on Saturday said the country is passing through difficult times and its safety and honour depend on the ability of its young officers as military leaders.

Addressing gentlemen cadets at the Indian Military Academy here as the reviewing officer of a passing out parade, Gen Naravane said they are being commissioned as officers into the army under the most daunting of circumstances and the high standards of their military training will help them overcome the challenges lying in store for them.

The parade saw a total of 423 cadets being commissioned into the army including 333 from the country and 90 from friendly foreign countries.

"These are difficult times for the country. Its safety, honour and respect depend on your abilities as military leaders. You have to live up to the expectations of your countrymen. You have to ensure that whatever you do is for their welfare," he said.

The army chief said there are no good or bad regiments but only good officers.

"Become one with your men. Win their trust and affection and they will win battles for you," Naravane said.          

He asked the gentlemen cadets to throw themselves into their new role as commissioned officers with passion but also be compassionate towards their men.

"When the going gets tough and all seems lost, it is the spirit of your men that helps you win," he said.          

He said the gentlemen cadets who are taking their first step as commissioned officers will have to make decisions in the tactical and operational domain as well as resolve ethical issues and they will have only their conscience to guide them.          

"In such critical moments let the core values enshrined in the preamble of the constitution of India be your guiding light," the Army Chief said.

Asking them to rise above petty considerations of caste, creed and religion, he said the army does not discriminate.

Apart from containing the external threats, you may also have to defang internal forces out to destabilise the country.

He said the precise drill movements of the cadets had convinced him they will do their respective countries proud.

"In the autumn of your careers what will matter is not the position you finally attain but how honourably you have served your nation," he said.              

In a message to the gentlemen cadets' parents, who were not allowed to attend the event due to the coronavirus pandemic, the Army Chief said, "Till yesterday they (gentlemen cadets) were your children but from tomorrow they will be ours."

He promised to be with them through thick and thin.

The parade looked slightly off-colour this time with the enthusiastic crowds of parents and some usual features missing like the showering of the drill square with flower petals by helicopters.

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News Network
July 11,2020

New Delhi, Jul 11: Poll strategist Prashant Kishor took a swipe at Bihar Chief Minister Nitish Kumar on Saturday, saying this is time to fight the coronavirus not elections and that he should not endanger people's lives in a "hurry" to hold the assembly polls.

"The coronavirus situation in Bihar is worsening like it is in many other states of the country. But a big part of government machinery and resources are busy making preparation for the polls.

"Nitish Kumar ji, this isn't time to fight elections but the coronavirus. Don't endanger people's lives in this hurry to hold the polls," he tweeted.

Kishor, once a confidant of the JD(U) president before he turned a critic and was expelled from the party, joins leaders like LJP chief Chirag Paswan and RJD's Tejashwi Yadav in suggesting that the Bihar assembly polls should be deferred due to the pandemic.

Polls in Bihar are due in October-November but the Election Commission has so far not made any official announcement about its schedule.

The BJP and the JD(U) have been holding organisational meetings and said that they are ready for the elections.

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