India
recognises that accountability in financing of education is critical to achieve
SDG4 and associated targets. It involves accountability in financing of
education on the part of both the development partners and individual
countries. Accountability on the part of development partners relates to the
commitment to enhance funding that is needed to implement SDG4-Education 2030
agenda. The latest Global Education Monitoring Report released recently
points out that“at the global level, international commitments to finance the
education sector, remains weak”. The Report indicates that “only 6 of 28
OECD-DAC countries met their commitment to allocate 0.7% of national income to
aid.” Therefore, OECD developed countries must fulfil their
commitment. Ultimately, investing in education is investing in peace and
sustainable future.
Accountability
on the part of individual countries relate to the commitment to set nationally
appropriate spending targets for education, mobilising financial resources and
achieving in a progressive manner the international benchmarks of allocating at
least 4% to 6% of gross domestic product (GDP) to education; and/or allocating
at least 15% to 20% of public expenditure to education. Accountability
on the part of individual countries also relates to efforts aimed at ensuring
that the available funds are used efficiently and effectively.
The
Government of India recognises that achieving the education development goals
and targets set in the context of SDG4-Education 2030 agenda requires increased
and well-targeted financing and effective and efficient utilisation of
allocated funds. Government of India is investing nearly 4.5 % of GDP on
education, despite competing demands on resources. The Central and
State/ UT governments have been making efforts to provide adequate and
equitable financing to educational priorities. There has been a broad consensus
that investment on education be gradually increased to reach a level of six per
cent of the Gross Domestic Product (GDP). Efforts are being made to step up the
outlay on education by facilitating substantial increase in both public and
private sector investment in education. Furthermore, improved coordination,
monitoring and evaluation processes have been attempted to ensure that the
available funds are used efficiently and effectively, and with measurable
education outcomes and impacts for children and youth, especially in terms of
attainment of expected learning outcomes.
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GG/AK/RK/UNESCO-2017