The government has announced a new initiative called Revitalising Infrastructure and Systems in Educ...........

Economic Affairs Others

The government has announced a new initiative called Revitalising Infrastructure and Systems in Education (RISE). Consider the following about it.

The scheme emphasizes on Primary Education system of India.
The Budget for the current financial year has introduced a Special Educational Cess (SEC) to finance the scheme.
Akshay Patra is the lead implementing agency for this scheme in rural India.

Select the correct answer using the codes below.

1 only

2 only

1 and 3 only

None of the above

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Explanation:

The initiative aims to step up investments in research and related infrastructure in premier educational institutions, including health institutions. It will have a total investment of ?1, 00,000-crore in the next four years. Higher Education Financing Agency (HEFA) would be suitably structured for funding this initiative. The manner in which investment in institutions is provided is likely to be the same as is practiced in HEFA, but there may be different windows for different institutions. HEFA will leverage the equity to raise up to ?20,000 crore for the funding of world-class infrastructure at the IITs, IIMs, the National Institutes of Technology (NITs) etc.