New Delhi, Feb 26 (IANS) The union budget for the next fiscal has pegged an outlay of Rs.31,036 crore (Rs.310.36 billion/$6.7 billion) for school education, an increase of Rs.4,236 crore from the previous year, Finance Minister Pranab Mukherjee said Friday.

The minister said a lot of this money would go for the implementation of the Right to Education Act, which aims at mandatory education to all students between the age of six and 14.

'The act will provide good quality and equity education,' Mukherjee said while presenting the budget in parliament.