Budget Reaction Quotes by Industry Experts

Budget reaction quotes by industry experts

By Prof. Dheeraj Sanghi, Dean of Academics, IIIT-Delhi

In his the Budget Speech 2017, it was heartening to hear the Finance Minister, Arun Jaitley lay emphasis on energising the youth of the country. This is indeed important and has to be done by creating an environment conducive to innovation and scientific thought process. The Finance Minister also offered to set up an Innovation Fund for secondary education for ensuring universal access, gender parity and quality improvement. This is a welcome move and hopefully it will include ICT enabled learning. In Higher Education, Mr. Arun Jaitely proposed to provide autonomy to institutes of higher education to further add impetus to growth in the private sector. More autonomy is always welcome. The Ministry also proposed the setting up of a National Testing Agency for all Entrance Exams. But the National Testing Agency should not only manage large scale tests, but should also have a research wing for research on testing like ETS in USA.

Budget reaction quotes by industry experts

By Dr. Narendra Shyamsukha, Founder Chairman, ICA Edu Skills

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The Union Budget which Finance Minister Arun Jaitley presented in Parliament today is on the whole progressive and forward-looking. The government’s continued focus on Skill Development is heartening. The Finance Minister promised that PMKK centres are going to be state of the art skill centres to be set up across 600 districts. One big challenge that skill development faced till now was paucity of finances for creating awareness among youth and influencers, but with 4000 crore set aside for this project under the new budget things should look up. The next step should be to set up. International skill centres to groom skilled professional for global market. On education front it is good to see that the administrative burden of entrance exams has been taken off from AICTE and CBSE so that they can focus on their core competency which is quality academics.

Budget reaction quotes by industry experts

By Mr. Pradipto Chakrabarty, Regional Director, CompTIA on Cyber Security

“We already have a Computer Emergency Response Team (Cert-in) which reports to the ministry of electronics and IT. We will have to see how different this team will be from CERT-IN. In my opinion one of the key roles of an ideal Computer Emergency Response Team should be complete focus on threat / vulnerability analytics to prevent security lapses through a team of highly trained professionals on information security defense tactics. Also, it should be a nodal agency for a common repository of breach events so that the entire ecosystem can learn from the best practices. The objective of this team (either new or the existing organization) will be all about analytics and defense. “

Budget reaction quotes by industry experts

By Mr. Sudhir Singh, MD Marg Compusoft

The Union Budget which Finance Minister Arun Jaitley presented in Parliament today is on the whole progressive and forward-looking. The government did not disappoint corporates, especially SMEs and MSMEs on the much expected reduction of tax rates. For small and medium businesses with annual turnovers of less than 50 crore, the tax has been reduced from 30% to 25%. This was a much needed tax reform. It will enable small businesses and medium size businesses to improve infrastructure and adopt digital technology. We also appreciate government’s initiatives to promote a digital economy. It is the need of the hour. It will bring transparency in financial transaction and promote ease of doing business. More importantly, it will encourage entrepreneurship which the country desperately needs.

Budget reaction quotes by industry experts

By Prof. Deepanshu Mohan, Assistant Professor of Economics, Jindal School of International​ ​Affairs,​ OP Jindal Global University

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Frequently Asked Questions

In an area like education and skill development, the FM ensured a consistency in announcing a number of perplexing new schemes and measures like STRIVE (Skill Strengthening for Industrial Value Enhancement); SANKALP (Skill Acquisition and Knowledge Awareness for Livelihood Promotion Programme); and a National Testing Agency for conducting all entrance examinations for higher education institutions without giving any clear rationale on how they may actually improve the exacerbating skill gap in India, in spite of the existing skill development programmes in place​. In area of primary education, the announcement of introducing a system of measuring annual learning outcomes in schools, is welcome but again presupposes that the existing state of infrastructure and human resource pool in the primary education space across India is capable of ensuring a transparent, robust process of learning outcome assessment and further acting upon it.

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