Pre-Budget expectations quote from Sri Bharat Mathukumilli, President of GITAM and founder of Kautilya School of Public Policy.“In the Union Budget 2023-24, we expect a budgetary fillip to be provided to all areas within India’s education sector. The Budget committed last year to the education sector was 2.6%. The expectation is that at least 3-3.5% of the budget will be allocated to be spent on education, if not 6%. There is an urgent and important need to transform the education system. For example, modern tools like ChatGPT require institutions to have a strong technology infrastructure and skilled human resource teams that understand how to deal with this rapid change in technology. The government has the desire to increase the gross enrollment ratio (GER) in higher education to 50%. However, the institutions that are fueling this growth are largely private institutions. On the contrary, the support they get is very limited.”Speaking of intellectual capital, such as access to academic databases, journals and books, if India could invest in them at a national scale and make them available to institutions, it will go a long way in transforming the ecosystem. In addition to this, if low-cost funds could be made available to institutions committed to excellence, by the government, the institutions will be able to grow much faster.”
Pre-Budget expectations quote By Mr. Girish Singhania, CEO of EduBridge
After the pandemic, the Indian markets are experiencing the unlock phase and operating in full swing. Schools and colleges are now up and running just as they used to. One observes a positive change in the educational pedagogy, but as a work development platform, we are rooting for more profound changes in the educational system. Some of these changes include,
1. We look forward to extending support for new educational guidelines penned down by NEP in 2020. The expectations will involve a greater focus on skilling initiatives, where we advocate the importance of skilling at every level.
2. Introducing more vocational courses earlier on and implementing them at the grassroots level.
3. Formal Educational Institutions, Academies, and EdTech Platforms advocate the removal of GST on any of the educational products and services for ten years.
4. A more profound Tech-enabled training of teachers or perhaps revitalizing the existing Diksha App to enhance the reach.
5. Profound financial plans that encourage learners to sign up for skilling initiative to better their career prospects.
6. We also look forward to more news on the advancements made towards firing up the Digital University to ensure that education reaches even the underserved pockets of the country.
We expect a better financial allocation towards education in general, to ensure that we meet with heightened literacy rates by the upcoming fiscal year of 2024-25.
This year Educate yourself and develop your skills with EasyShiksha
Pre Budget Quote by Mrs. Damayanti Bhattacharya, Principal of Jasudben ML School and Bloomingdales Pre-Primary
40% of India’s population is in the age bracket of 18 or below. The country needs to spend a great deal on education. However, the country spends only 3% of its GDP on the education sector. Since about 1968, the education sector has expressed its need for an increase of budget to at least 6% which has still not been achieved. By increasing this budget, India can demonstrate the sense of responsibility that it feels toward the future of the country. If NEP 2020 has to be fulfilled, we will need to improve basic literacy in our country or the pre-primary, FLN in our country. And in order to do that, we would need the finest and developed infrastructure which is the utmost required and for the same, funds are needed in the higher education sector.
A lot of funds has to be diverted, allotted to research development which is the key for progress of any country. In a country like Israel or even Bhutan, the G D P on education is about 7%. In the US it’s about 6%. So if we are looking at a country with a big population, a country as big as India certainly requires more funds to be divested towards its educational system. The implementation of these NEP, development of the AI labs, retraining teachers in e-learning, reaching out to the little villages of India through technology, through e-learning all this requires funds. Without funding NEP is not possible to implement. still such a time that the NEP has not been implemented completely. Also the government needs to think of reducing the GST on the education sector. Currently the GST is about 18%, and that needs to be zero till the NEP is completely implemented.
When it comes to a girl child, there were certain incentives which were given to the girl child which have now been reduced, and though the government has made the SSA or the Samagra Shiksha Abhiyan and allotted some amount. However, the allotted amount has been affected drastically. Since the major strength in our country is its human resource, the government has to invest in its human resource and capacity building. NEP also focuses on vocational training and learning compulsory which requires a decisive effort of the government to take it forward and to implement, to make it help the education system in creating the infrastructure.
If vocational training is well implemented, it’ll have far greater outcomes in the skilling of the workforce in India in the future. Hence, the budget must take into account the fulfillment of the NEP and the requirements of the age group. Keeping in mind the large numbers that we have to reach out to and the length and the breadth of a country like India and if we have to extend our assistance to each and every child especially a girl child, alongside we should also provide incentives, scholarships to the economically weaker section as we have to do to the meritorious.
It requires a lot of careful planning and funding. I’m hoping that we will be able to come up from the 3% in the last year till 6%. 6% is a minimum that we require for developing an economy and country like ours with such bright minds. I believe the NEP is a wonderful document, if it is implemented accurately.. The concern of all academicians, people in the education sector has been the lack of funds. I think the government has to really rethink investing in the future, it should invest in the education sector. This will definitely give us a positive outcome and rewards in years ahead.
Pre-Budget expectation quote from The chairman and managing director of Miles Education, Vikas Gupta
“The upcoming Union Budget should have a strong focus on education, particularly in the areas of implementing the National Education Policy and reimagining university education. This includes increased funding for higher education institutions and a reconsideration of the 18% GST rate currently imposed on educational and training services, which includes PG certifications and executive programs from any institution, private or public. Such a high GST rate acts as an entry barrier for many individuals to upskill themselves, thereby hindering the goal of building a skilled and competitive workforce, and driving economic growth in the country. An upskilled workforce will not only earn more but also spend more, ultimately paying higher taxes and giving better returns in the long run. Therefore, high taxes on upskilling programs seem counterproductive, becoming an unnecessary hurdle in the way of India becoming an economic powerhouse. Thus, the government should take the necessary steps to make education more accessible and affordable for all.”