The National Endowment for the Humanities yesterday announced the reduced budget it will send to Congress to comply with President Reagan's call for a 50-percent cut in proposed funding for fiscal 1982.

The NEH will eliminate entirely: new challenge grants, which award three-to-one matching funds to organizations; special projects; fellowship programs for professionals; and residential fellowships for college teachers.

In addition, groups that have already been awarded challenge grants -- funded in installments over a period of three years -- and are expecting the second- or third-year installments "might not get as much as they expect," and NEH spokesman said.

NEH revised its budget after President Reagan requested a total of $85 million for the agency. The Carter administration had proposed $169 million for fiscal 1982. "The new budget will mean substantial reductions in all of the Endowment's programs, ranging from about 24 percent ot 64 percent in the agency's six grant-making divisions," according to an NEH statement released yesterday.

The NEH has allocated $59 million to programs, $9.6 million to continuing challenge grants, $5.4 million to treasury funds (used to provide matching grants to organizations) and $11 million to administration. (Administrative funds for the current fiscal year are $11.3 million.)

Funds for public programs -- which include the highly visible media, museum, library and historical projects -- will be budgeted at $8.4 million, down from $21.5 million in the current fiscal year.

Education programs will be reduced to $10.7 million from $16.8 million in fiscal 1981. Fellowship programs (independent study and research by academics, seminars and similar projects) are budgeted at $9.2 million. Research programs will receive $13 million.

State programs (which fund local humanities councils) will be reduced to $13.2 million from the current $23.9 million. Special programs and planning (youth programs, science, technology and human-values projects and assessment studies) will receive $4.5 million, down from the present $10.6 million.