EXPERTS’ POINTS OF VIEW ON PRE-UNION BUDGET

• Experts from the Education sector quote views on the Pre-Union Budget for the fiscal year 2024-25 throwing light on the various changes and developments which can be made in the Pre-Budget for the holistic growth of individuals

1. Pre-Budget quote – “Incorporating Indian Knowledge System, key for upgrading curricula”

• Dr Prof Anand Achari, Principal of Vivekanand Education Society’s College of Architecture speaks on the Pre-budget 2024 in the Education sector

“The Government of India has embarked on several initiatives and reforms to implement the National Education Policy (NEP) 2020. As these efforts persist, additional support is anticipated in the upcoming budget. Incorporating the Indian Knowledge System (IKS) into the curriculum necessitates the development or upgrading of curricula, training or orientation for faculty and the empanelment of artists and artisans-in-residence in Higher Education institutions.

The government’s efforts in implementing skill development programmes have set the stage for positive change. However, there is a need to strengthen industry-academia collaboration for better alignment of academic curricula with the evolving job market. Moreover, prioritizing financial support for Academic-Industry Collaboration is crucial, as it serves to forge robust connections between educational institutions and industries. This strategic emphasis ensures that academic curricula stay abreast of the ever-evolving demands of the industry, thereby nurturing a workforce equipped with agility, adaptability and preparedness for future challenges. Additionally, it’s important to extend support to COA-approved Institutes with larger research grants akin to those provided to All India Council for Technical Education (AICTE). This will foster innovation and excellence in education.

As we navigate the complexities of our changing educational landscape, let’s consider this budget as an opportunity for a positive shift in the education sector – one that emphasizes not only skill development but also the holistic growth of individuals prepared for the contemporary workforce. In addition to supporting infrastructure grants, the incorporation of technology-based learning can contribute to a more balanced and future-ready education system.”

2. Pre – Budget expectation for education – “Fueling EdTech innovation through R&D grants will unlock personalized learning tools”

• Nischal Narayanam, Founder and Mentor of Nischal’s Smart Learning Solutions, speaks about the upcoming Union Budget Session for the year 2024-2025.

  

“Our classrooms are buzzing with the potential of 10.1 billion dollars EdTech and democratized learning, but like any good question, it demands thoughtful solutions. I urge the government to bridge the digital chasm with affordable tech and connectivity, especially in rural areas. Fueling EdTech innovation through Research and Development (R&D) grants will unlock personalized learning tools. Investing in high-quality content creation, aligned with diverse needs, is the next chapter for equitable education. Through these focused investments, Budget 2024 can rewrite the educational narrative, ensuring every child gets the A+ they deserve.”

3. Budget expectation quote – “AI automation underscore the urgency of nurturing creative thinking underscore the urgency of nurturing creative thinking.”

• Vice Chancellor of World University of Design (WUD) Dr Sanjay Gupta emphasizes the need for strong government support in shaping design education

“At this pivotal moment in India’s economic landscape, we acknowledge the transformative power of design. The digital revolution and the looming threat of Artificial Intelligence (AI) automation underscore the urgency of nurturing creative thinking.

Minister of Commerce and Industry, Piyush Goyal’s endorsement of “Design in India” and the Culture Ministry’s announcement of an “Art, Architecture & Design Biennale” in December 2023 marks a promising shift. As India recognizes the crucial role of design amid digital advancements, I emphasize the need for strong government support in shaping design education. As the demand for designers rises, addressing the shortage of design talent is essential. In anticipation of the upcoming budget, I propose a few key areas of focus.
Establishing a National Design Research Fund will support innovation and attract talent, improving faculty development and infrastructure. Addressing the faculty shortage by incentivizing the hiring of foreign faculty members can enhance the quality of design education. Encouraging collaboration between design institutions and industries through tax incentives will provide valuable opportunities for students. Additionally, increasing scholarships and grants is crucial for making design education accessible to diverse backgrounds, ensuring that talent from all walks of life contributes to our creative landscape.

Additionally, creating an innovation ecosystem, leveraging cultural heritage and aligning India’s design policy with global trends are vital. However, to harness this momentum, a comprehensive design policy is also imperative. The absence of such a policy is glaring as design emerges as a value-adding activity across sectors. The upcoming Union Budget is a unique opportunity to lay the groundwork for a flourishing creative economy, positioning India as a global design leader.”

4. Pre-budget expectations – “Budget 2024 should address the core aspects of education with a view to enhance quality of learning.”

•  Niru Agarwal, Trustee of Greenwood High International School, urges the government to focus on expanding access to education and technology, particularly in rural and undeserved areas

“Over the last couple of years, education has seen an increase in funds allocated towards increasing outreach, skill development and improving its quality. However, as education is a key development sector, we have huge expectations from the upcoming budget. It should address the core aspects of education with a view to enhance quality of learning, improve teacher professional skills and build robust infrastructure. Today, education systems continue to face hurdles in effectively supporting learning in the current context and overall student development in an increasingly challenging world.

While new educational policies have identified many path-breaking initiatives, we urge the government to focus on expanding access to education and technology, particularly in rural and undeserved areas. We have to build the right combination of Digital, Physical and on-the-job classrooms infrastructure that will improve the efficacy of learning. We also need to create an enabling environment to let the private sector come forward and establish new institutions. Ease of doing business is more important here than anywhere else.

There is also need to advocate gender-focused allocation to promote women’ education. The country is in need of expertise at different levels and this demand can be met only by training students at the school level. The foundation and vision set by the government, through National Education Policy (NEP) 2020 will be vital in achieving the goal of an effective and inclusive education system. However, the future of Indian education will be marked by innovation, inclusivity and a commitment to prepare students to face challenges and opportunities that lie ahead. Overall, we hope that the budget gives a much-needed boost to the education sector to cope up with varied tasks in the current context.”

5. Pre-budget Expectations 2024 – “Fostering collaboration between the proposed National Digital University and EdTech entities is pivotal”

• Anish Srikrishna, Chief Executive Officer (CEO) of TimesPro says increasing public-private partnerships and incentivizing the creation of future-centric courses will empower Indian youth for the job market

“Last year’s Union Budget reflected the government’s commitment to nurturing skilled professionals amidst dynamic changes. To propel our education system to the next level and achieve 100 percent digital literacy, I propose the implementation of crucial measures. Firstly, fostering collaboration between the proposed National Digital University and EdTech entities is pivotal. By jointly offering programmes, certifications and employment opportunities, we can efficiently upskill a broader Indian population.

The incentivisation of such initiatives through tax rebates for EdTech companies will ensure affordability for learners, fostering widespread adoption of technology-led education. Moreover, increasing public-private partnerships and incentivising the creation of future-centric courses will empower Indian youth for the job market.
The reduction of Goods and Services Tax (GST) on online learning courses and lowering education loan interest rates will make education more accessible, especially in Tier II and III regions. The digital divide is paramount hence there should be an increase in infrastructure allocations to improve rural internet connectivity and tax relief for students acquiring digital devices. This will ensure universal access to online education, regardless of geographic constraints. Lastly, earmarking funds for continuous tech development and establishing a regulatory framework are indispensable for sectoral growth. These initiatives will not only create stability and attract investments but also stimulate innovation, foster entrepreneurship and ensure the long-term sustainability of our EdTech sector.”

6. Pre-budget quote – “Non-profit mandate for running schools and educational institutions needs to be removed in order to fuel innovation and attract institutional capital.”

• Sumeet Mehta, Co-founder and Chief Executive Officer (CEO) of LEAD Group says that GST relief on school solutions would make goods and services for education more affordable and will help foster educational innovation and transformation

  

“In order for India to become a developed nation by 2047, we need to transform our school and college systems. The National Education Policy (NEP) 2020 encourages schools to move beyond books to provide multi-modal education (audio-visual, activity based learning). However, all technology and learning hardware to schools are currently taxed at either 18 percent or 28 percent. Goods and Services Tax (GST) relief on school solutions will make goods and services for education more affordable and will help foster educational innovation and transformation, thereby vastly improving access to affordable and high quality education for all. Also, the non-profit mandate for running schools and educational institutions needs to be removed in order to fuel innovation and attract institutional capital. Enabling mechanisms must be put in place for schools and educational institutions to avail financing at moderate rates and help them upgrade and get skilled to adopt technology.”

7. Pre-budget expectations on education sector – “We look forward to the budget allocating funds for research and development, promoting expansion into newer areas of specialization and the progress of knowledge.”

• Poulomee Ghosh, Senior Partner, TRANSEARCH India – Non-Profit and Education Practice expects that this budget will prioritise funding for need-based financial aid, harness technology aiming to provide equal opportunities for higher education access irrespective of financial circumstances

“As we approach the 2024 interim budget, we eagerly anticipate the government’s renewed commitment towards investing in the future of the country’s children and youth through focus on quality education, which is inclusive and accessible for all, along with providing relevant knowledge and skills for meeting the diverse challenges of the future. It is important to understand, that the education system of a country serves as a cornerstone in its progress and development, demanding a commitment of incremental allocations year on year. While the post-COVID era witnessed some higher allocation in school and higher education budgets, we expect that this budget will prioritise funding for need-based financial aid, harness technology aiming to provide equal opportunities for higher education access irrespective of financial circumstances.

We hope that the budgetary allocation for education, over the next few years, will inch towards the figure of 6 percent of Gross Domestic Product (GDP), as desired by the National Education Policy (NEP) 2020, serving as a base to enhance the learning outcomes and upskilling within the country. We look forward to the budget allocating funds for research and development, promoting expansion into newer areas of specialization and the progress of knowledge. Support for faculty and staff professional development is also crucial. Additionally, we anticipate an augmentation in funding for initiatives that support diversity, equity and inclusion, aiming to provide equal opportunities for success amongst all.”

8. Education Sector’s Pre-budget expectation 2024-25 – “We seek a curriculum that not only imparts knowledge but also fosters critical thinking, innovation, and real-world skills crucial for the future”

• Jitendra Karsan, Chairman of Safari Kid, India, said that they advocate for an inclusive and dynamic learning environment, ensuring every student is adequately prepared for the challenges presented by the digital era

“As we acknowledge the unwavering dedication of the Indian government in enhancing the education landscape, the advent of the National Education Policy (NEP) in 2020 stands as a milestone in this transformative journey. The strides made reflect a commitment to steering the education sector towards unprecedented growth.

Anticipating Budget 2024-25, our aspirations align with the visionary ethos of NEP 2020, envisioning a budget that lays the foundation for an education realm strengthened by a progressive curriculum. We seek a curriculum that not only imparts knowledge but also fosters critical thinking, innovation and real-world skills crucial for the future. Simultaneously, our expectations extend to a budget that propels digital enhancement across all educational boards and levels. Recognising the pivotal role of technology, we advocate for an inclusive and dynamic learning environment, ensuring every student is adequately prepared for the challenges presented by the digital era.

Allocating resources to education is vital to bridge gaps, improve access and boost overall quality. Recognising its importance, the education sector should also open up to the private sector either through public private partnerships or otherwise, for faster penetration of quality education in both urban and rural areas. Additionally, there’s a push for the recruitment and retention of qualified teachers, competitive remuneration and professional development. Envisioning a future where education is a catalyst for personal growth and national progress, Budget 2024-25 holds the key to shaping this transformative journey by addressing these critical aspects.”

9. Pre-budget expectation quote – “The implementation of National Education Policy (NEP) 2020 necessitates a substantial commitment to address the scarcity of human resources in Higher Education Institutions”

• Prof Vishwanathan Iyer, Senior Associate Professor and Director of Accreditation – Finance and Accounting, Great Lakes Institute of Management, Chennai said that the nation looks to Budget 2024 as a stepping stone towards bridging global gaps in education and fostering a new era of academic excellence

  

“As India eagerly anticipates the 15th budget on Feb 1, 2024, the evolving landscape of budgetary presentations underscores the need for a strategic shift. Past budgets, marked by a heavy emphasis on capital expenditure, now witness a favourable economic scenario, prompting expectations of a nuanced fiscal strategy.

With the nation’s focus on education intensifying, the need to align capital expenditure with investments in human resources becomes paramount. The implementation of National Education Policy (NEP) 2020 necessitates a substantial commitment to address the scarcity of human resources in Higher Education Institutions. The glaring disparities in the faculty student ratio and internationalization indicators, as highlighted in the QS Asia University Rankings 2024, emphasize the urgency for substantial fiscal support. While the proposed 100 percent increase in the education budget to Rs 2.25 trillion may seem daunting, robust tax collections and a significant surplus in revenue create a conducive environment for a transformative leap. The nation looks to Budget 2024 as a stepping stone towards bridging global gaps in education and fostering a new era of academic excellence.”

10. Pre-budget expectation quote – “There may be 100 percent increase in allocation to education sector”

• Dr VP Singh, Director, PGDM & Professor, Managerial Economics & Statistics, Great Lakes Institute of Management, Gurgaon speaks about various schemes the government had executed in the past years and said that this time the education sector will get a big boost

  

“This year we expect to see an extraordinary budget regarding education. The government’s budgets in the past have emphasised a lot on infrastructure where allocation increased four times from Rs 2.5 lakh crore to Rs 10 crore.

• Jan Dhan Yojana has enabled financial inclusion by bringing more than 50 crore people under formal banking.
• Almost similar number of people benefitted from Aayushman Bharat PMJAY scheme by getting health insurance
• 35 crore people have been benefitted from the PM Garib Kalyan Anna Yojana
• Jan Jeevan mission has been announced
• 100 percent rural electrification has been achieved.
• Almost all social sectors have been impacted through past budgets.

This time it is highly likely that the education sector will get a big boost. There may be 100 percent increase in allocation to education sector.”

11. Pre-budget expectation quote – “In order to increase the Gross Enrolment Ratio (GER) in Higher Education, including vocational education, from 26.3 percent (2018) to 50 percent by 2035, we require investments and capacity addition”

• Shashi Banerjee, Director of Education, Shiv Nadar School said that a trend may be seen towards increased international collaborations through multi-disciplinary education and research-oriented universities, along with EdTech and other private institutions through internships and training

“The budget for education needs to empower our youth to be ready for a fast-evolving world. The interim budget can lay the groundwork for National Education Policy (NEP)’s vision and objectives with IC2: infrastructure, capacity and collaboration. In order to increase the Gross Enrolment Ratio (GER) in Higher Education, including vocational education, from 26.3 percent (2018) to 50 percent by 2035, we require investments and capacity addition. Plans such as integrating anganwadis with elementary schools and including a “Preparatory Class” or “Balavatika” before Class 1 require additional infrastructural facilities, building teacher capacities and hiring additional teachers in elementary schools.
Similarly, health check-ups, growth monitoring and schemes like PM Poshan and SWAYAM (Study Webs of Active–Learning for Young Aspiring Minds) require budgetary support. We may also see a trend towards increased international collaborations through Multi-disciplinary Education and Research-oriented Universities, along with EdTech and other private institutions through internships and training.
There may not be any significant increase in budgetary allocation in the education sector due to the wider aim to narrow the fiscal deficit, coupled with modest aggregate domestic demand and the implementation of the model code of conduct before the general elections. Post elections, we hope that leveraging India’s demographic dividend by increased spending in the education sector is considered a priority.”

12. Expectations from the Union Budget 2024 – “As India continues to be a global powerhouse in STEM (Science, Technology, Engineering and Mathematics), any policies in this budget further boosting students’ aspirations in this dynamic field would be welcomed”

• Chief Executive Officer (CEO) and Co-Founder of MPOWER Financing, Manu Smadja hopes to see an increased allocation to Higher Education in particular and adds that this commitment will be a testament to India’s dedication towards fostering a generation equipped with knowledge and skills, crucial for global competitiveness

“As India gears up for its upcoming Union Budget, we are particularly excited about developments in the education sector. With the nation’s ambition to become the third largest economy by 2030 and a vision set for Amrit Kaal 2047, it’s crucial that this year’s budget strongly emphasizes education and skill development. We hope to see an increased allocation to Higher Education in particular. This commitment will be a testament to India’s dedication towards fostering a generation equipped with knowledge and skills, crucial for global competitiveness.

Moreover, as India continues to be a global powerhouse in STEM (Science, Technology, Engineering and Mathematics), any policies in this budget further boosting students’ aspirations in this dynamic field would be welcomed.

Finally, we appreciate the government’s vision to harness 25 percent of the global workforce from India by 2047. The remarkable contributions of the Indian diaspora and the increasing number of Indians in global leadership roles already demonstrate the potential of our youth. This budget has the potential to be a transformative milestone for the national and international educational landscape, setting the stage for a brighter, more skilled future.”

13. Pre-budget quote – “In the education sector, there may be a push for increased allocation of funds to enhance digital infrastructure, promote technology-driven learning and bridge the digital divide”

• Prof Arvind Sahay, Director at Management Development Institute (MDI) anticipate policies that promote entrepreneurship, innovation and ease of doing business, providing a conducive environment for graduates entering the corporate landscape

“The Indian Union Budget 2024 is anticipated to focus on economic recovery and growth, with an emphasis on key sectors such as healthcare, infrastructure, and education. Economically, I anticipate policies that promote entrepreneurship, innovation and ease of doing business, providing a conducive environment for our graduates entering the corporate landscape.

In the education sector, there may be a push for increased allocation of funds to enhance digital infrastructure, promote technology-driven learning and bridge the digital divide. Investments in state-of-the-art infrastructure, technology integration and research facilities will be crucial for staying globally competitive. The budget may also prioritize skill development initiatives to align with the evolving job market. In particular, I expect initiatives supporting the development of online learning platforms, digital infrastructure of educational institutions and applications of Artificial Intelligence (AI) in various areas of citizen life.

Additionally, the budget should prioritize initiatives for faculty development, teacher training, ensuring a skilled and motivated teaching workforce especially at the primary level. I believe that efforts to address the affordability and accessibility of education, especially for marginalized communities, may feature prominently. Not to forget, given the global emphasis on Science, Technology, Engineering and Mathematics (STEM) education, the budget could allocate resources to strengthen these fields.

Apart from a comprehensive approach to uplift the education sector, the government may focus on strengthening the financial sector, ensuring fiscal discipline and addressing issues related to inflation and currency stability. Overall, the budget is expected to strike a balance between short-term recovery measures and long-term sustainable development goals, aiming to position India as a resilient and dynamic economy in the post-pandemic era.”

14. Pre-budget quote – “Formalising the edtech sector and streamlining operations through regulations and policies instils confidence among stakeholders, fostering an environment conducive to growth”

• Mohan Lakhamraju, Founder, Chief Executive Officer (CEO) of Great Learning said that the removal or reduction of GST rate from upskilling programmes in the upcoming Union Budget will help solve this by democratising access to quality education, fostering innovation and employability

  

“With technological advancements happening every minute, relying just on a college education is not enough for the Indian youth. They will have to keep updating and upskilling themselves to utilise their full potential in strengthening our economy. Removal or Reduction of Goods and Services Tax (GST) rate from upskilling programmes in the upcoming Union Budget will help solve this by democratising access to quality education, fostering innovation and employability. Formalising the edtech sector and streamlining operations through regulations and policies instils confidence among stakeholders, fostering an environment conducive to growth. These changes ultimately align with the national goal of developing a more responsive education system, equipping the workforce in this knowledge-driven economy to meet the evolving demands of the job market.”

15. Pre-Budget 2024 expectation quote – Dr Madhumita Chatterji, Director, ABBS School of Management for publishing said that the government should earmark specific funds for self-funded autonomous institutions approved by AICTE and offering the PGDM degree as these institutions have to depend totally on student fees.

“Overall allocation towards education has been around 2.8 percent to 2.9 percent of the Gross Domestic Product (GDP) since 2015.  The Indian Department of Higher Education funds central universities, IITs, NITs, IISERs, IIMs and schools of planning, architecture and others. The Higher Education regulators like University Grants Commission (UGC) and All India Council for Technical Education (AICTE) are also funded by the department. Research and innovation in Higher Education and scholarships for higher education also come under the purview of the Higher Education Department. However, in 2022, the Standing Committee on by Education, Women, Children, Youth and Sports observed that student financial aid schemes were not sufficient to cover the cost of higher education. This is because most expenditure from the scholarship is towards course fees. (Report No. 337, Standing Committee on Education, Women, Children, Youth and Sports, on “Demands for Grants 2022-23 of the Department of Higher Education”, Rajya Sabha, March 16, 2022).
Government should earmark specific funds for self-funded autonomous institutions approved by AICTE and offering the PGDM degree as these institutions have to depend totally on student fees.”

16. Pre-Budget quote – “Addressing the shortage of qualified teachers is a priority, requiring investments in teacher training programmes and incentives for educator retention. The proposed ‘National Research Foundation (NRF)’ under NEP offers opportunities for meaningful industry-academia collaboration”

• Vishnu Manchu, Pro-Chancellor of Mohan Babu University said that strategic resource allocation is crucial to produce graduates with essential skills, emphasizing practical training in Technology, Healthcare and Engineering

  

  “The Indian government, driven by the National Education Policy (NEP) 2020, has initiated transformative measures like the National Credit Framework (NCF), the Central Universities (Amendment) Bill and seamless online learning integration, reshaping education. As the nation endeavours to build on these efforts, there’s an expectation for more support in the upcoming Budget.

A critical challenge is the need for up-skilling and job-ready graduates, leading to a focused government approach on skill development and youth education. Strategic resource allocation is crucial to produce graduates with essential skills, emphasizing practical training in Technology, Healthcare and Engineering. Investing in technological infrastructure, particularly in Artificial Intelligence (AI) adoption, is vital for a skilled workforce.
Addressing the shortage of qualified teachers is a priority, requiring investments in teacher training programmes and incentives for educator retention. The proposed ‘National Research Foundation (NRF)’ under the NEP offers opportunities for meaningful industry-academia collaboration. The Budget could incentivize this, fostering data sharing and technical support for researchers to drive innovation and bridge the gap between academic research and industry needs.
There’s a need to enhance the education system to attract more foreign students, necessitating substantial investments in Higher Education. The potential introduction of the Higher Education Commission of India (HECI) holds promise and expectations are high for increased allocations to flagship initiatives like Samagra Shiksha, Eklavya Model Residential Schools and the Skill India Programme. This strategic approach aims to address evolving education sector needs, emphasizing holistic education, inclusivity and global competitiveness.”

17. Pre-Budget expectation – “The educators are hopeful of considerable budget allocation to boost the EdTech infrastructure of the country, for promoting necessary skill development in students for navigating the tough industrial landscape with wisdom.”

• Nitin Viijay, Founder & Chief Executive Officer (CEO) of Motion Education said that abiding by the guidelines outlined by the National Education Policy (NEP) 2020, of allocating six percent of the country’s Gross Domestic Product (GDP) towards education, there is a lot of hope that a major share of the investment will be made toward further accelerating technology integration in education

  

  “The education sector is expecting some major strategic resource allocation to shape the educational landscape. The educators are hopeful of considerable budget allocation to boost the EdTech infrastructure of the country, for promoting necessary skill development in students for navigating the tough industrial landscape with wisdom.
  Along similar lines, abiding by the guidelines outlined by the National Education Policy (NEP)2020, of allocating six percent of the country’s Gross Domestic Product (GDP) towards education, there is a lot of hope that a major share of the investment will be made toward further accelerating technology integration in education. Where the previous year witnessed the highest-ever investment in the education sector, this year we are expecting strategic distribution aimed at a seamless transition of the sector from a rote learning method to a more dynamic skill-based education. In the pursuit, it will also play a pivotal role in encouraging accessibility of education in Tier II and III cities by disintegrating the digital divide. At the same time, the government must consider reducing the Goods and Taxes (GST) on online education to ensure the affordability of education for students across the country.”