With the Finance Ministry and the Planning Commission holding up many of its proposals,the Union HRD Ministry plans to set up a non-lapsable fund to finance secondary and higher education schemes. Madhyamik and Uchcha Shikhsa Kosh,like the existing Prarambhik Shiksha Kosh,will be set up with proceeds from the education cess,sources said. Prarambhik Shiksha Kosh was set up in 2004,with the money collected as 2 per cent cess,to finance elementary education schemes mainly the Sarva Shiksha Abhiyan and the mid-day meal schemes. When an additional one per cent Secondary and Higher Education Cess was imposed in 2007 to help fund new seats in higher educational institutes that are required to reserve 27 per cent seats for other backward classes,the HRD Ministry had no non-lapsable repository to receive this money. So,the unutilised money automatically lapsed and was directed to the Consolidated Fund of India. By setting up the new non-lapsable fund,the Ministry has ensured this money remains at its disposal when if it is not utilised. The fund will get around Rs 3,000 crore to start with and will assist in setting up of the proposed National Education Fund Corporation the Ministry has been working on. The fund is also expected to finance existing schemes including Rashtriya Madhyamik Shiksha Abhiyan,ICT in education and Girls Hostels Scheme,which require considerable investment. With the Right to Education Act having cornered the lion's share of the ministry's allocations,several of its proposals are stuck with the Finance Ministry and the Planning Commission,which want the costs trimmed down or the schemes postponed.
