Union Budget 2019 has taken a number of measures to increase foreign capital. The Finance Minister assured that the Government would also bring in a New National Education Policy to transform India’s higher education system to one of the global best education systems. Also, she focused on the ‘Study in India’ programme to bring more foreign students to India.
She also disclosed that draft legislation for setting up the Higher Education Commission of India (HECI) would be presented in the coming years that will bring some regulatory changes in higher education.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Ravi Panchanadan, Managing Director & Chief Executive Officer, Manipal Global Educational Services Ltd said, “As stated by the Finance Minister in the Union Budget, the National Education Policy shall help transform India’s higher education system, as one among the best, globally. The creation of a National Research Foundation (NRF) shall ensure that the overall research ecosystem in the country is strengthened with a focus on identified thrust areas. An allocation of Rs. 400 crore, exclusively, to create world-class institutions of repute, is a tremendous step towards reversing the brain drain. To amplify these, the ‘Study in India’ initiative shall attract talent from foreign countries to invest in their educational careers in India. We are eagerly awaiting the rollout of the new HE policy, as it promises to be a game changer.”[/perfectpullquote]
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Subrat Mohanty, Group President, Manipal Education & Medical Group, MEMG said, “The Government has comprehensively addressed the issue of employability in the Union Budget. At the outset, the ramping up of the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) to leverage India’s unique demographic dividend is a crucial step to boost the economy. The intent to train the youth in new age skills (such as AI, ML, Big Data, IoT, and robotics will position the country as a hub for highly skilled labour. This will help drive employment considering the demand for these skills in the wake of Industry 4.0. Also, the increase in courses through the Swayam platform will empower the disadvantaged sections of the society in acquiring employable skills and for upskilling. Supplementing these reforms, the government’s decision to provide connectivity in every panchayat through the Bharat Net initiative will facilitate a broader base for upskilling across rural India.”[/perfectpullquote]
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Gopal Devanahalli, CEO, MeritTrac Services said, “Under the Skill India(PMKY) initiative, the finance minister has talked about focusing on new age skills like Artificial Intelligence (AI), Internet of Things, Big Data, 3D Printing, Virtual Reality and Robotics. This is a welcome move as more jobs will be created in these areas in India and abroad. She has also talked about reforms in the regulatory systems for the higher education sector which I believe will help in improving the overall quality of research and addressing employability gaps.”[/perfectpullquote]
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Prof. Vishwanathan Iyer, Professor & Associate Dean Academics, Tapmi said, “Establishment of National Research Foundation to promote research in India is a great move to strengthen overall research ecosystem in the country. Research is one area where we have been lagging behind compared to the West and even China. ‘Study in India’ is expected to be a game changer in terms of bringing foreign students into the Indian higher education system. While we have always aimed at ‘Internationalization’ of Indian students in higher education, it is time we started seeing ‘Indianization’ of International students in the higher education space.”[/perfectpullquote]