Madhyamik and Uchchatar Shiksha Kosh (MUSK)

Madhyamik and Uchchatar Shiksha Kosh (MUSK)

  • A single non-lapsable corpus fund Madhyamik and Uchchatar Shiksha Kosh (MUSK) will work as a repository for the revenue of the Secondary and Higher Education Cess.
  • It will be inducted to help the education schemes for which demand exceeds budgetary allocations.
  • A non-lapsable reserve fund means that if the amount collected is not utilized it would be carried forward to the next financial years.
  • The HRD Ministry will be responsible for the administration and maintenance of MUSK.
  • The fund will cater the following schemes:
  1. Interest subsidy on education loans
  2. Education credit guarantee fund
  3. Scholarship schemes
  4. Girls’ education schemes
  5. Higher education funds in states.
  • MUSK is similar to Prarambhik Shiksha Kosh (PSK) which was in place to fund elementary education schemes such as Sarva Shikha Abhiyan (education for all) for which the government collects a separate 2% cess.
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s