New Delhi: A sum of Rs 99,300 crores for education for the year 2020-21 will be provided, Finance Minister Nirmala Sitharaman said on Saturday while presenting the second union budget of Modi's re-elected government.

"We propose Rs 99300 crores for the education sector in 2020-21 and Rs 3000 crores for skill development," Sitharaman said in the Parliament. She also said that a New Education Policy will be announced soon, adding that "external commercial borrowings and FDI to be leveraged to improve the education system."