Consider the following statements: (1) The Union cabinet on August 16, 2017 approved the creation of a non-lapsible corpus fund for secondary and higher education, to help fund select education schemes for which demand exceeds budgetary allocations.
(2) The Madhyamik and Uchchtar Shiksha Kosh (MUSK) will have all the proceeds from the 1% cess the government collects under the ‘secondary and higher education cess’ which has been in place since 2007.
(3) To begin with, the fund may have a corpus between Rs. 3,000 crore and Rs. 5,000 crore.
(4) The fund will be akin to the Prarambhik Shiksha Kosh (PSK) already in place since 2005 to fund elementary education schemes such as Sarva Shikha Abhiyan.
Which of the above statements are true?