Budget 2021: Non-resident City University per district
November 17, 2020 07:54 pm
A sum of Rs 3,000 million has been allocated to provide television sets for schools in difficult areas for students to access the ‘Guru Gedara’ education channel.
The ‘Guru Gedara’ education channel is introduced to minimize the difficulties faced by students in rural and non-National Schools, due to a shortage of teachers, and ensure the provision of continuous school education in the face of the COVID-19 epidemic.
Budget 2021 proposes setting up of a non-resident City University per District, targeting specific areas of high demand for employment opportunities.
The current annual intake of 100,000 students to state-run vocational education institutes will be increased up to 200,000, Prime Minister Mahinda Rajapaksa said, delivering the 2021 Budget Speech.
In addition, the following proposals have been made in the Budget with regard to developing vocational education:
- Provide the instructors and staff of the vocational education institutes with incentives based on their performance
- Provide a monthly bursary of Rs. 4,000 for students in the vocational education system.
- Upgrade the Nursing schools to that of degree-awarding institutions to expand the professional education of nursing and nursing services
- Provide loans of Rs. 500,000 at an interest rate of 4 percent as start-up capital to those who successfully complete vocational education to start their own business. This loan will have a grace period of one year for both principal and interest, with a further 4 years to settle the loan. Accordingly, these entrepreneurs will be facilitated to receive the opportunity to pay an installment together with interest less than Rs 12,000. In order to ascertain that the said loans are invested in the approved business, an annual commitment fee of 0.25 percent will be charged for follow up and extension services. A tax exemption of 5 years will also be given to these businesses.
- Private sector institutions to enhance their student intake at least up to 50,000. A tax holiday will be given on the institutions’ income for a period of five years if the intake is doubled.
- Foreign Employment Bureau to facilitate the youth who possesses specialized skills in sectors like Tourism, Health, Construction, Agriculture, and Animal Husbandry to seek foreign employment.
