The government today said it plans allocate Rs 3 lakh crore for the education sector under the 11th Plan, which would be a four-fold increase from the previous Five-Year Plan.
"The proposed allocation for education in the 11th Five-Year Plan (2007-2012) will be Rs 3 trillion (Rs 3 lakh crore) which has been adopted by the National Development Council," Finance Minister Pranab Mukherjee said while addressing the 17th convocation of Himachal Pradesh University here.
The share of education in the total planned expenditure will accordingly increase from 7.7 per cent to 20 per cent, representing a credible progress towards the target of 6 per cent share of education in GDP, Mukherjee said.
Pointing out that the present Central government was according top priority to education, Mukjerjee said it has set the stone rolling in terms of the National Knowledge Commission report.