This is the 7606th most frequent Japanese word.
削ら
"削ら" is the stem form of the verb "削る" (kezuru), meaning "to shave," "to cut down," "to sharpen," or "to reduce."
削る here means to physically shave or reduce the material of the pencil to sharpen it.
鉛筆を削ります。
I sharpen the pencil.
削る in this context refers to reducing or trimming the budget, often used in abstract or figurative reductions.
予算が削られました。
The budget was cut.
削る here conveys allocating or taking time from one activity to dedicate to studying, metaphorically reducing available time for other actions.