Far reaching impacts on skill sector, say educationists Updated: Updated: ‘Emphasis on skill development for graduates and setting up of a Higher Education Commission significant’ Share Article ‘Emphasis on skill development for graduates and setting up of a Higher Education Commission significant’ Three major components of the Union Budget could have far reaching impacts for higher education — emphasis on skill development for graduates; setting up of a Higher Education Commission and the allocation of ₹50,000 crore, for five years, to the National Research Fund. The Budget proposes to set up a formal umbrella structure for research institutions, in nine cities, to enable them to function better.