Local governments do not play a significant role in educational finance in India. The primary sources of educational finance are the Central Government, State Government, and the Private Sector.

The Sarva Shiksha Abhiyan (SSA) aims to provide elementary education to all children in the age group of 6-14 years.

The Mid-day meal program is not a component of RMSA. It is a separate scheme that provides free lunches to students in government schools.

The Right to Education Act (RTE), 2009, guarantees free and compulsory education to all children in the age group of 6-14 years.

While lack of infrastructure, shortage of teachers, and high dropout rates are challenges faced by the Indian education system, low quality of education is not a challenge in terms of access to education. It is a challenge related to the quality of education.

The National Education Policy (NEP), 2020, aims to transform the Indian education system by increasing the Gross Enrolment Ratio (GER), improving the quality of education, and making education more inclusive and equitable.

Universalization of early childhood care and education (ECCE), expansion of vocational education and training (VET), and establishment of community schools are all key recommendations of the NEP, 2020, to improve access to education.

The NEP, 2020, recommends that the public expenditure on education should be increased to 6% of GDP.

The Top Class Education Scheme is not a scheme launched by the Government of India to provide financial assistance to students from economically weaker sections.

The National Means-cum-Merit Scholarship Scheme (NMMSS) is a scholarship scheme for students belonging to Scheduled Castes (SCs), Scheduled Tribes (STs), and Other Backward Classes (OBCs).

The Post-Matric Scholarship Scheme (PMSS) is a scholarship scheme for students belonging to Scheduled Castes (SCs), Scheduled Tribes (STs), and Other Backward Classes (OBCs).

The Central Sector Scholarship Scheme (CSSS) is a scholarship scheme for students pursuing vocational education, technical education, and higher education.

The National Scholarship Portal (NSP) is a single-window platform for students to apply for Central Government scholarships, State Government scholarships, and Private scholarships.

The Education Loan Scheme is a scheme that provides loans to students for pursuing higher education, vocational education, and technical education.

The interest rate on Education Loans can be either fixed or floating.