During Budget speech, Finance Minister Nirmala Sitharaman announced that the central government has proposed Rs 99,300 crore for education sector in 2020-21 and Rs 3000 crores for skill development. She said, “The new education policy will be announced soon. We propose Rs 99300 crores for education sector in 2020-21 and Rs 3000 crores for skill development.” She further said,

“In order to provide quality education to students of deprived education as well as to those who do not have access of higher education, it is proposed to start a full-fledged degree-level online education programme. This shall be offered only by institutes in top 100 in National Institutional Ranking Framework. IND-SAT exam will be held for Asian and African students for scholarship to ‘Study in India’.”