Education Current Affairs - 2019
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The continuous fall in rupee value which reached an all time low last week has become a matter to worry about for the students planning to study in the U.S.A. and their parents who have to spend more than they expected initially.
Why it costs more?
As the Rupee falls against the Dollar those students who study in US will have to pay more than what they previously thought. It happens in case when they have to buy dollars in exchange of rupees. If, for example, initially, one was buying a unit of dollar by spending a few units of rupee, after depreciation of rupee one has to shell out more units to buy a unit of dollar which makes it expensive.
At present, compared to last year, parents have to spend Rs. 7 to Rs. 8 more per dollar. It means those paying a fee of Rs. 5 lakh initially in an average university have to shell out Rs. 60,000 more apart from other expenses.
The Ministry of Human Resource & Development (HRD) will constitute a 7-member Task Force headed by Prof. Sanjay Dhande, Ex-Director, IIT. The team which will have representatives from CBSE, UGC, NCERT, AICTE and from the Ministry, will be tasked to prepare a blue print for creating a Special Purpose Vehicle (SPV) for the setting up of National Testing Agency (NTA).
- The HRD Ministry will also provide financial assistance to needy meritorious students who have passed with minimum B1 grade under CBSE grading system of 10th or 12th examination.
- The amount of grant provided to such students shall not exceed Rs. 20,000 for class 10th and Rs. 40,000 for class 12th during any one financial year.
What will NTA do?
- The NTA will formulate a uniform entrance examination for admission in different branches of higher education which will reduce the stress on students who have to go through multiple examinations.