Dr Prashant Bhalla, Chancellor, Manav Rachna International University, said, "While the budget allocation on education has steadily been increasing, from Rs 10,145 crores ten years ago to Rs 79,451 crore in the interim budget of 2014/15, this is still just a little more than 3% of GDP. We need to double this figure, in tune with other countries. Also, it is important to ensure that a large portion of the allocation is not left unspent at the end of the financial year. I welcome the announcement of a moratorium period for education loans taken up to March 2009 and outstanding interest till December 2013. This is a significant initiative that will benefit lakhs of students. It is also heartening that the finance minister singled out skill development for special mention and included it in the priority list of the government. I hope the Government would continue with education reforms and encourage the private sector to play a much larger role in higher education.”
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