Tag Archives: Education

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.