Quick Response (QR) Code is a machine-readable code consisting of an array of black and white squares, which are essentially web links that can be read by smartphone cameras.
The minister also said the cabinet committee on Economic Affairs has given its approval for continuation of Credit Guarantee Fund for Education Loans Scheme and continuation and modification of Central Sector Interest Subsidy Scheme with a financial outlay of Rs. 6,600 crore for period from 2017-18 to 2019-20.
This will provide education loans to 10 lakh students during this period.
In order to allow more students to access the benefit, (and also considering that the average loan size has been only Rs. 4 lakhs), the ceiling on the loan amount has been refixed at Rs. 7.5 lakhs, the cabinet committee decided yesterday. The moratorium period would be course period + 1 year.
The committee, to promote quality education, decided that the scheme would cover loans for pursuing professional/technical courses from NAAC/NBA accredited Institutions/programmes or Institutions of National Importance or Central Funded Technical Institutions (CFTIs). This condition would however, be applicable with prospective effect, and would not apply to the current loans.
The cabinet committee decided to put a dashboard in place for better monitoring of the scheme.
From 2009 to 2014, the government has spent Rs 800 crore per year under the scheme, which increased to Rs 1,800 crore per year from 2014 to 2017, the minister said.
The minister said a committee has been formed to look into the issue of promoting digital board by replacing the blackboard to improve quality of education. He said the committee will give their report in a month's time.
An estimated allocation of Rs 75,000 crore over the period has been approved which is a 20% increase over the current allocations.
The scheme comes in the backdrop of PM's vision of SabkoShiksha, AchhiShiksha and aims to support the States in universalizing access to school education from classes pre-nursery to XII across the country.
The vision of the Scheme is to ensure inclusive and equitable quality education from nursery to senior secondary stage in accordance with the Sustainable Development Goal for Education, said a statement from the ministry.
The main emphasis of the Integrated Scheme is on improving quality of school education by focussing on the two T's - Teacher and Technology, said the statement.
(Wtih PTI Inputs)
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