Unraveling the Madhyamik and Uchchtar Shiksha Kosh

The MUSK was established with the funds collected from the Secondary and Higher Education Cess (SHEC). The creation of this fund was a strategic move to universalize access to secondary education and expand the reach of the higher education sector. The proposal for this fund was initially put forth by the Ministry of Human Resources Development in 2010, but it was only accepted in 2016 by the Department of Economic Affairs.

Key Aspects of the Fund

• The Ministry of Human Resources and Development (MoHRD) is responsible for administering and maintaining the MUSK pool.
• The MoHRD will allocate the funds as per the laid down procedures, for future schemes/programmes of Secondary and Higher education, based on the requirements.
• The MUSK pool will be utilized only after the Gross Budgetary Support (GBS) is completely exhausted.
• MUSK is a Reserve fund in the non-interest bearing segment of the Public Accounts of India.

Application of the MUSK fund

The MUSK fund will be operationalized in line with the arrangements under Prarambhik Shiksha Kosh(PSK) while the proceeds are allocated for Mid-Day Meals(MDM) Scheme and Sarv Shiksha Abhiyan (SSA) of the Department of School Education & Literacy.

• MUSK will be used for the ongoing Madhyamik Shiksha Abhiyan Scheme, National Means Cum Merit Scholarship Scheme and National Scheme for Incentives to Girls for Secondary Education.
• The fund will also be utilized 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.

The Madhyamik and Uchchtar Shiksha Kosh aims to cater to the following needs:

• Subsidy on education loans
• Education credit guarantee fund
• Scholarship schemes
• Schemes for girls’ education
• Higher education funds in states.

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