The Union Budget 2024, scheduled for July 23, 2024, holds significant implications for the education sector, particularly amidst the government’s focus on tech-driven growth and skill development. Stakeholders are keenly anticipating policy measures that will address the rising demands of the education system and bridge the gap in accessibility and quality.
Abhishek KG, Co-founder of Clapingo, an online spoken English platform, emphasizes the critical role of digital networks in propelling India’s tech advancement. He advocates for policies that support startups and alleviate the financial burden on learners by reducing the 18% GST on online education. This sentiment is echoed by Anil Nagar, Founder and CEO of Adda247, India’s largest vernacular test prep platform, who believes that increased funding for the Education Ministry will empower students in Tier-2 and Tier-3 cities through improved digital infrastructure and access to student loans.
Educationists, like Rustom Kerawalla, Founder Chairman of VIBGYOR Group of Schools, highlight the need for a comprehensive approach that focuses on infrastructure development, teacher training, and inclusive education. He envisions a future-ready education system that embraces technology, fosters experiential learning, and equips students for real-world challenges.
Manav Subodh, Founder of 1M1B, an AI-focused skilling organization, champions green education and AI as essential drivers of a sustainable future. He advocates for the integration of green skills into the Skill India Mission, establishment of Green Skill Academies, and the creation of a dedicated fund for climate technology and AI startups.
Rohin Kapoor, Partner, Education and Skilling – Management Consulting, BDO India, and Tarun Saini, CEO & Co-founder of Vidyakul, India’s first vernacular e-learning platform, voice the need for reducing the GST on edtech services to enhance affordability and accessibility. They also highlight the potential for Public Private Partnerships (PPPs) to leverage the expertise of startups and address critical educational needs.
The Union Budget 2024 presents a crucial opportunity to shape the future of education in India. Stakeholders are hopeful that the government will prioritize investments in digital infrastructure, skill development, green education, and inclusive practices to create a dynamic, equitable, and globally competitive education system.
