The Indian education system experienced a mix of triumphs and challenges in 2024. While universities like IISc and IITs continued to rise in global rankings, issues such as exam paper leaks tainted the credibility of the system. However, the government’s proactive measures introduced this year are set to bring significant improvements, especially for students across various education stages.
Here are five key government initiatives launched in 2024 to empower Indian students:
1. PM-Vidyalaxmi Scheme: Easing Financial Burdens
The PM-Vidyalaxmi Scheme was introduced to help meritorious students who face financial barriers. The initiative provides education loans with minimal interest rates for undergraduate and postgraduate students admitted to the top 860 institutions across India. With an impressive budget of ₹3,600 crore over seven years, this scheme is designed to benefit over 22 lakh students annually. By reducing financial constraints, it ensures that talented students can pursue quality education without hindrance.
2. One Nation One Subscription (ONOS) Scheme: Knowledge for All
The One Nation One Subscription (ONOS) scheme aims to provide nationwide access to academic resources such as journals, e-books, and research databases. With a budget of ₹6,000 crore over three years, this initiative is set to revolutionize access to knowledge for higher education and research students. By bridging gaps in resource accessibility, ONOS encourages a rise in research output and enhances the quality of education across the country.
3. PM SHRI Schools: Model Institutions for Holistic Learning
In line with the National Education Policy (NEP) 2020, the government launched the PM SHRI Schools initiative. This program will establish over 14,500 schools nationwide, serving as models of inclusive and holistic education. PM SHRI Schools aim to offer innovative pedagogies, state-of-the-art infrastructure, and a focus on creativity, critical thinking, and character development. These schools will set benchmarks for education quality across the country.
4. Interest Subvention on Education Loans: Making Higher Education Affordable
To alleviate the financial burden on students seeking higher education, the government introduced an Interest Subvention Scheme. This initiative allows students to avail education loans up to ₹10 lakh for domestic institutions with a 3% interest subsidy. Benefiting approximately one lakh students annually, the scheme makes education more affordable and enables students to pursue their academic aspirations without significant financial strain.
5. PM Internship Scheme: Practical Exposure and Professional Experience
The PM Internship Scheme was launched to provide students and recent graduates with practical exposure and professional experience. Participants in the scheme can secure internships across various government departments, public sector undertakings, and private institutions. This initiative helps bridge the gap between academic learning and industry requirements, providing students with valuable on-the-job experience to kickstart their careers.
Conclusion
The year 2024 saw a blend of challenges and triumphs for India’s education system. However, the government’s targeted initiatives—such as the PM-Vidyalaxmi Scheme, ONOS, PM SHRI Schools, and the PM Internship Scheme—are crucial steps towards addressing systemic challenges. These initiatives provide financial support, promote skill development, and improve access to quality resources, ensuring that students are better equipped for the future.
