UPSC Exam Preparation: Topic of the Day – Madhyamik and Uchchtar Shiksha Kosh
Approval has been accorded by the Union Cabinet for the creation of Madhyamik and Uchchtar Shiksha Kosh (MUSK) a non-lapsable pool in the Public Account for secondary and higher education. The proceeds of Secondary and Higher Education Cess (SHEC) will be credited to this pool. This was created in the light of the need felt by the government to give a fillip to its efforts in universalizing access to secondary education and expanding the reach of higher education sector. The creation of such a fund was initially proposed by the Ministry of Human Resources Development in 2010, but was rejected. The proposal was reinitiated in 2016 and was accepted by the Department of Economic Affairs.
- Ministry of Human Resources and Development (MoHRD) would take care of the administration and maintenance of the MUSK pool.
- Funds will be allocated by the MoHRD as per the procedures laid down, for any future schemes/programmes of Secondary and Higher education, based on the requirements.
- The expenditure on schemes of Department of School Education & Literacy and Department of Higher Education would be financed from the MUSK pool only after the Gross Budgetary Support (GBS) is completely exhausted.
- MUSK will be maintained as a Reserve fund in the non-interest bearing segment of the Public Accounts of India.
Utilsation of MUSK fund:
The fund will be operationalized as per the arrangements under Prarambhik Shiksha Kosh(PSK) while the proceeds are used for Mid-Day Meals(MDM) Scheme and Sarv Shiksha Abhiyan (SSA) of the Department of School Education & Literacy.
- MUSK would be utilized for Secondary education, in the ongoing Madhyamik Shiksha Abhiyan Scheme, National Means Cum Merit Scholarship Scheme and National Scheme for Incentives to Girls for Secondary Education
- It would be used for Higher education in the ongoing schemes of interest subsidy and contribution for guarantee funds, scholarship for college & university students, Rashtriya Uchchtar Shiksha Abhiyan, Scholarship from block grant to institutions and National Mission on Teachers and Training.