6% of GDP allocated for Education within 6 years

Interim Budget 2015 presented in Parliament this week, promised a gradual allocation of 6% of GDP for Education. This increase comes with a host of other increases in allowances for the Education sector.

Other countries in the region are spending a comparatively higher percentage on Education, which makes an increased expenditure on Education by the Government a necessity, considering emerging global market trends, said Finance Minister Ravi Karunanayake, presenting the proposal to gradually increase current Government spending from 2% to 6%.

Accordingly, the Ministry will develop policies and plans to utilise the increase in funds, said Education Minister Akila Kariyawasm.

“We have yet to receive the allocation schedules, but the idea is to increase the allocations to 6% gradually over six years,” the Minister said.

The Mahapola allowance for undergraduates was also increased from Rs 4,000 to Rs 5,000, from July this year. The move fulfills a longstanding demand by the Inter University Students Federation to increase the Mahapola allowance to Rs 5,000. The previous government increased the allowance to Rs 4,000 in Budget 2014.

A monthly allowance called Lama Diriya of Rs 250 for Pre- school teachers will be given to all preschools registered with the Ministry of Children’s Affairs. A monthly allowance called Daham Diriya of Rs 200 will be given to Dhamma school teachers of Dhamma schools registered with the relevant Religious Affairs Ministry.