Union Budget 2024: Slashing of GST rates, public-private partnership, demand educational leaders

NEW DELHI : Heavy investments in the education sector, reduction of GST rates in upskilling courses, public-private partnerships are some of the expectations of people from the academic world for the Union Budget 2023.

Mohan Lakhamraju, founder and CEO of Great Learning expects reduction of GST prices in upskilling programmes for students. He said, "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 GST rate from upskilling programs in the upcoming Union Budget will help solve this by democratising access to quality education, fostering innovation and employability.”

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Jitendra Karsan, chairman of Safari Kid, which is a chain of preschools, seeks an innovative curriculum and a budget that enhances digitalisation. He expressed, "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.”

The chairman also thinks that the education sector should open up to the private sector either through public-private partnerships or otherwise, for bringing 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, he added.

Interim Budget 2024

Stressing upon the increasing trend of Artificial Intelligence (AI) and lack of Indian business in AI, professor P J Narayanan, director, IIIT Hyderabad urged the government to invest heavily in the education and technology sector.

“AI-based technology has been a major driver in recent months and the trend will only accelerate. A call for heavy investments, a progressive policy framework, and increased R&D expenditure is clearly needed for India to catch up with the world in these areas. The government's role is pivotal in fostering an ecosystem that fuels AI innovation, bringing academia, industry, NGOs, and government departments together,” the professor said.

Also read Interim Budget 2024: Experts expect focus on AI integration, equal access to education

“The potential impact of AI on key sectors in India is profound. From revitalizing primary education with predictive analytics to addressing skill-building challenges through personalized, on-demand learning, AI can be a catalyst for positive change…In this pivotal moment, bold investments in education, healthcare, and technology sectors in the upcoming budget can propel India to a leadership position in AI,” Narayanan added.