Is there a financial estimate for the Act? Why was it not attached when the Bill was introduced in the Parliament?
Financial estimates made by the National University for Educational Planning and Administration suggest that an additional 1.71 lakh crore rupees (about thirty four crore rupees per year) shall be required to implement the Act in the next five years. Since the Bill was introduced in the Rajya Sabha first, a financial estimate was not attached (only a financial memorandum was, which committed funds from the consolidated funds of the government). With an attachment of financial estimates, the Bill would have had to be introduced in the Lok Sabha first (as a money Bill), where it would have lapsed since it was not passed before the end of the term of the last Lok Sabha. MHRD has recently revised the NUEPA figure of 1.71 lakh crore rupees to 2.33 lakh crore rupees for five years, taking into account the previous deficit of teacher recruitment under SSA, when the Act had not come into force.