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Single non-lapsable corpus fund for Secondary and Higher education
August 17 , 2017
2657 days
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- The Union Cabinet chaired by the Prime Minister has accorded its approval for creation of a non-lapsable pool in the Public Account for secondary and higher education known as "Madhyamik and Uchchtar Shiksha Kosh" (MUSK) into which all proceeds of "Secondary and Higher Education Cess" will be credited.
- The funds arising from the MUSK would be utilized for schemes in the education sector which would be available for the benefit of students of secondary and higher education, all over the country.
- This Cess levied under Section 136 of Finance Act, 2007.
- Administration and maintenance of the above process comes under Ministry of Human Resource Development.
- Rashtriya Madhyamik Shiksha Abhiyan Scheme
- National Means-Cum-Merit Scholarship Scheme and
- National Scheme for Incentives to Girls for Secondary Education.
- Schemes of Interest Subsidy and contribution for guarantee funds, Scholarship for College & University Students;
- Rashtriya Uchchtar Shiksha Abhiyaan;
- National Mission on Teachers and Training.
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