»FM Proposes to Set up Higher Education Commission of India, To be Implemented by Bill in 2021 1-MIN READ FM Proposes to Set up Higher Education Commission of India, To be Implemented by Bill in 2021 Nirmala Sitharaman announces Union Budget 2021 in the Lok Sabha. There will be four structures set up as four independent verticals within one umbrella institution, the Higher Education Commission of India (HECI). FOLLOW US ON: New Delhi: The Budget 2021-22 in education has been dedicated to the implementation of the new National Education Policy 2020. Finance minister Nirmala Sitharaman announced on Monday that in 2021 the Higher Education Commission of India will be introduced in the Lok Sabha.