Finance Minister Nirmala Sitharaman unveiled the third budget of 21st century. The budget is the combination of short, middle and long-term goal.
The analysis also came out that the sector also needs more intellect talent. The announcement of New Education policy with a budget of ₹99,300 crore for 2019-20 with an increase of ₹10,000 crores from the last year. Around ₹56, 536.63 crores have been allocated for the school sector and rest ₹38,317.01 crore to the higher education.
As a part of the Study in India program, IndSAT examination is proposed for Asian and African countries. In the School segment, ₹36, 322 crores assigned to Samagra Shikha Abhiyan, a new scheme that merges several schools under Sarva Shiksha Abhiyan. Also, ₹11,000 crore for midday meal program and ₹3,000 for skill development.
In higher education, a dip in the budget allocation for both regulatory body UGC and AICTE. The proposal of National Police University and National Forensic Science University for policing science, forensic science, and cyber-forensics. A fund has increased to central university and rise to research and development. A high push to job-ready programs like Big data, AI, robotics, etc will be part of training program said the Finance Minister in her speech.
The upscale of budget of BJP from 2014
What are the experts are thinking
Shri M J Balachander, Chairman, MVJ College of Engineering
The Union Budget 2020 has focused on the nation’s growth and brings a positive sentiment to the overall economy. The education sector has been given a major boost with announcements on Rs 99,300 Crore outlay for the education sector, 3000 crores for skill development. This will not only lead to the complete revamp of the sector but will also ensure that the young workforce is equipped with skills which can help them navigate through the VUCA World. (Volatile, Uncertain, Complex, and Ambiguous)
Dr Rupamanjari Ghosh, Vice-Chancellor, Shiv Nadar University
We welcome the outlay of INR 99,300 crores for the education sector in the Union Budget 2020. While we look forward to the implementation of the New Education Policy as announced by the Finance Minister, it is nice to see proposals aimed at the creation of a more inclusive education system – the outcomes have to be tangible, and the regulatory system needs to be revamped. India has one of the world’s largest working population, and the allocation of Rs 3000 crore for core skill development should be part of an agile higher education system for long-term relevance. Further, the focus on enabling the teaching community is well appreciated – we should be able to attract the best minds to the noblest profession! I am personally very excited about the 8,000-crore allocation for the National Mission on Quantum Technology. We are looking forward to more details and a sound implementation plan
Nealesh Dalal – Managing Trustee, JD Institute of Fashion Technology
The Union Budget 2020 has proposed aspirational changes that have the capability to turnaround the education sector. Apart from allocating considerable finance to the educational sector as a whole- INR 99,300, an intriguing aspect is the budget’s focus on skill development with an allocation of 3,000 crores. Design Technology has longed for this demeanour of development where we hope to see the youth of India and especially women choosing it as a career to sharpen their skills. We are eager to see the government’s involvement in bringing more impetus in the design sector. The budget’s focus on encouraging entrepreneurship and boosting internship prospects is another progressive reform for the youth of India and the Make in India initiative.
Akshay Munjal, President, BML Munjal University
This year’s budget is quite aspirational, under which education forms an essential component, thereby giving impetus to PM’s mission of Study in India. With the opportunity of demographic dividend, INR 99,300 Cr being invested in education and INR 3,000 Cr being invested in the skill development, there is great hope to add world-class technologies and facilities. Apprenticeship programs, which will be started in about 150 higher education institutions, augmented by internship programs with urban local bodies, up to a period of one year will help train students more comprehensively and shall ensure that most of the working class population is employed by 2030. Implementing the Ind-SAT exam for Asian and African countries will make India a hub for higher education, thus attracting global talent. The suggested proposals will certainly help India shine globally. We welcome these proposals and are hopeful for a great education scenario in the country.
Sumit Kumar, Vice President – NETAP, TeamLease Skills University
This budget has been a promising one for the education sector and will surely address the skill deficit that India currently faces. Enabling higher education institutes to have apprenticeship programs by 2021 will improve youth employability and create a strong job-ready workforce. Allocation of more funds for both education and skilling and funds generated through FDI’s should be used to improve the quality of learning, upgrade teachers/trainers and strengthen the infrastructure. Additionally, the proposal for a new educational policy will bring in some relief to the sector. The policy should focus on linking apprenticeships with degrees as well as meeting the 32% GER rate without compromising the quality of education. Another positive move is the proposed online degree programs offered by top NIRF institutes which will make education more accessible. However, the government should also allow Skills Universities to provide these courses. The budget should have also focused on easing the regulations around online degree apprenticeship programs.
Ambrish Sinha, CEO, MeritTrac Services
The Union budget 2020 has proposed propitious changes that have the potential to revolutionize the education sector. The budget of INR 99,300, allocated to the sector will help to improve the overall quality of education and create employment opportunities. An appreciative step of the government is the proposal to set up a national recruitment agency for the conduct of computer-based online common eligibility tests for recruitment to the non-gazetted posts. This is a step in the right direction to bring transparency, efficiency and ‘best in class’ technology-enabled solutions to the recruitment process. MeritTrac as a leader in CBT assessments welcomes this initiative and we hope to leverage this opportunity.
The plan to allow degree level full-fledged online education programme by institutions ranked in the top 100 NIRF ranking would only facilitate the process of increasing employable talent. The 3000 crores budget allocated on skill development will help to produce industry-ready graduates to address employability gaps. The FM also focused on how technology like machine learning, robotics, and AI along with the number of productive age groups (15-65 years) are crossing streams in India. The Union Budget 2020 has taken care of all majority reforms and we look forward to a quick uptake in this period of the economic slowdown. The government’s proposal to start a programme for urban local bodies to provide opportunities for internships to young engineers can increase the talent pool of employable people at a time when unemployment is a major cause for concern. The Finance Minister’s proposal for a National Police University and National Forensic University is also a welcomed step.