Govt earmarked Rs.465bn for education in 2024 – State Minister says

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The government’s commitment to improving the standard and accessibility of education in Sri Lanka was demonstrated by State Minister for Higher Education Suren Raghavan’s announcement of a significant funding allocation for the education sector in 2024.

As a result, Rs. 255 billion would be set aside for primary and secondary education, which represents a significant investment in the early phases of education. Furthermore, a sizeable sum of Rs. 210 billion has been set aside for higher education, demonstrating the country’s commitment to supporting cutting edge research and development.

The state minister also outlined significant efforts meant to transform the field of education. He revealed intentions to enhance the administrative framework and general effectiveness of universities by designating Deputy Vice Chancellors for each university in addition to the current Vice Chancellors.

Speaking at a news conference with the theme “Collective path to a stable country” on Friday, November 3, at the Presidential Media Centre (PMC), Raghavan said these things.

The state minister stressed the adoption of a cutting-edge methodology in the social sciences, humanities, and arts. A thorough examination of these fields is about to start, offering graduates information that goes beyond regular degrees—a groundbreaking development for Sri Lanka’s educational system.

A national higher education commission or authority is being developed as part of a forward-looking vision that aims to unify different administrative functions under a single, centralised body. He added that this move is anticipated to optimise and streamline the administrative aspects of the higher education sector.

Furthermore, the state minister added, “beginning in 2025, the entire government investment in education will be granted directly as scholarships to government university graduates in order to empower citizens and provide greater educational freedom.” It is anticipated that this empowering move will provide students the freedom to select the university of their choice, in line with President Ranil Wickremesinghe’s ambition for revolutionary improvements to the public universities across the country.

The state minister emphasised that one crucial objective is to reform Sri Lanka’s educational and training systems. The government’s commitment to promoting an education system that is more inclusive, accessible, and advanced is further demonstrated by the substantial allocation of Rs. 210 billion for higher education and Rs. 255 billion for primary and secondary education in 2024, he continued.

In addition, by the end of the following year, vice chancellors and deputy vice chancellors should be appointed to every university. The goal of this project is to improve university administration. There are currently talks on raising university lecturers’ pay.