Education sector biggest beneficiary in the 2023/2024 budget, says Nyoro

Murang’a, Saturday, June 10, 2023

KNA by Bernard Munyao

The Parliamentary Budget Committee chairperson Ndindi Nyoro has said the education sector is set to benefit hugely in the next financial budget.

Speaking as he distributed bursaries for students in boarding schools from his constituency, Nyoro observed that Sh630 billion would be used to cater for various expenditures in the education sector.

Among the funds, which is 30 percent of the money allocated to the national government, Nyoro said Sh10 billion has been allocated for capitation for Junior Secondary schools considering that next year, there would be a new class towards implementation of Competency Based Curriculum (CBC).

He said the Higher Education Loans Board (HeLB) would also get an increase from Sh15 billion to a total of Sh30 billion.

The Kiharu MP further observed more money has been allocated in the budget to see 20,000 teachers for secondary and primary schools employed.

“There will also be money to employ tutors for Technical and vocational training institutes,” added Nyoro while addressing parents at Mumbi grounds where more than 5, 000 learners benefited with bursary cheques.

He continued, “the government is giving education much needed importance since the future of this country will depend on the young people who are currently in school and an educated generation is a bright future for our nation.”

The legislator further praised the Finance Bill 2023 which has gone to second reading in the National Assembly.

He observed that the Finance Bill would reduce the deficit in the budget to about 4 percent saying last financial year, the deficit of the budget was at 8. 2 percent of the Gross Domestic Product (GDP).

“As a government, we are listening to the views of Kenyans. The country is ours and we have to take into consideration views about the Bill and am sure the changes will be factored before the finance bill sails through in Parliament,” he remarked.

Nyoro said the expected budget to be read in the National Assembly on June 15 would be of Sh 3.679 trillion.

Out of the amount, Sh 2.3 trillion would be allocated for the national government and another Sh 385 billion be set for county governments.

Nyoro explained that money expected to be collected through taxation was Sh 2.57 and that raised through Aid in Appropriations (AIA) would be Sh 347 billion.

“The government is expecting to fund the budget also with Sh 42 billion from grants. The deficit of the budget will be Sh 718 billion. With the proposed Finance Bill, our aim is to reduce borrowing to fund the budget,” he added.

The lawmaker further said Sh 249 billion has been set in the budget to fund completion of ongoing road infrastructure.

“There are also funds set to complete stalled development projects with some started during Kibaki’s administration like some markets.

“Sh986 billion is allocated in the budget for Consolidated Fund Services (CFS) to cater for payment of debts and pensions,” he averred.

Meanwhile, Nyoro underscored Kiharu Masomo Bora scholarship programme which has enabled day scholars in local secondary schools to study for free.

In the programme, a parent is only supposed to pay Sh1000 to cater for remedials with the MP saying that in the next financial year, local NG-CDF would allocate funds to renovate and install tiles to all 60 day-secondary schools within the constituency.

Courtesy ; K. N. A