Union Budget 2026: Experts seek stronger upskilling policy, AI-ready workforce, easier education loans

The Union finance minister Nirmala Sitharaman will present the Budget 2026-27 in Parliament on Sunday, February 1. Ahead of the Union Budget 2026, professional bodies and education-financing platforms have called for stronger policy for skilling, professional education, and easier access to education loans.

In the Union Budget 2025-2026, the education sector was allocated Rs 1,28,650.05 crore, marking a 6.65% increase over the previous financial year. Sitharaman had presented her eighth consecutive Budget last year.

The Association of Chartered Certified Accountants (ACCA), a global professional accounting body with over 2,57,900 members and 5,30,100 future members across 180 countries, said the education budget 2026 should focus on “high-quality professional education aligned with global standards and strong industry–academia collaboration”.

Sharing his anticipation for the Union Budget 2026-27 and its potential impact on the industry, Md. Sajid Khan, director – India, ACCA, said: “As India prepares for the Union Budget 2026, the focus on strengthening the country’s financial and economic ecosystem must go hand in hand with investing in future-ready talent.”

“The accounting and finance profession is undergoing rapid transformation driven by digitalisation, sustainability reporting, AI, and evolving global compliance standards. We hope the upcoming budget prioritises measures that support high-quality professional education aligned with global standards and strong industry–academia collaboration,” Khan said.

He further said incentives for skill-based learning, digital upskilling, and global mobility of Indian professionals will be crucial in positioning India as a hub for world-class finance and accounting talent, and in bridging the skill gap and enhancing employability.

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Education loans

Concerns over education financing were raised by WeMakeScholars, which supports Indian students with education loans, scholarships, and financial guidance for higher studies in India and abroad.

Highlighting gaps in access to credit, it said: “India’s focus on startups and skilling is impressive, but there’s a glaring hole in the strategy: how we fund the students who actually power those sectors. Right now, education loans are treated like a luxury or 'discretionary credit' rather than the strategic infrastructure they are. When less than 15% of our students can access formal credit, we aren’t just facing a banking issue; we’re facing a talent bottleneck.”

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“It’s a bit of a paradox—we celebrate our global footprint, yet we penalize the journey there with things like the 5% Tax Collected at Source (TCS) on remittances. This Budget, we need more than just intent. We need the government to ease the cash-flow pressure on middle-class families by rationalizing TCS and expanding interest subsidies. We shouldn't be in a position where we fund the 'startup dream' but leave the 'education dream' to be self-financed. If we want a competitive workforce, the financing must be as bold as the ambition,” it said.

General Budget 2026: Highlights

In a first, Sitharaman is set to present the General Budget on a Sunday. This will be her ninth Budget presentation, one short of the record 10 Budgets presented by former finance minister Morarji Desai. The Budget session will begin in the Parliament on January 28, with President Droupadi Murmu addressing members of both Houses.

The first phase of the session will conclude on February 13 and will resume on March 9, allowing time for parliamentary scrutiny of Budget proposals.