As the Union Budget 2024 approaches, the anticipation in the education sector is palpable. Stakeholders across the spectrum are hopeful for substantial announcements shaping the future of learning in India.
This sector, which has been grappling with numerous challenges, requires a significant boost to meet the evolving demands of students, educators, and institutions.
From humble beginnings in Malda, West Bengal, Abhijit Roy embodies the power of education to change lives. A Class 12 student from a low-income family, Abhijit represents the hopes of many aspiring learners. Financial concerns clouded his dream of pursuing higher education, but he cracked the IIT JEE with a stellar rank of 191. He secured a coveted seat at the prestigious Indian Institute of Technology Kharagpur. "I hope the Budget exempts educational expenses from GST, making it easier for students like me to afford quality education," he says. Such a move would be a step towards democratizing education, ensuring that financial barriers do not thwart the aspirations of young minds.
Educational institutions, on their part, are eagerly looking forward to enhanced collaborations with fintech firms to drive skill development. "Such partnerships can help us provide industry-relevant skills to our students, making them more employable," says the Principal of a leading college, Dr Swati. By fostering these collaborations, the government can bridge the gap between education and employment, equipping students with the skills necessary to thrive in a competitive job market.
Furthermore, the industry is anticipating a push for public-private partnerships in green skills development. Establishing Green Skill Academies across states could be a game-changer, significantly contributing to climate change mitigation efforts. These academies would provide specialized training in sustainable practices and create a workforce equipped to tackle environmental challenges.
The Union Budget 2024 presents a crucial opportunity for Finance Minister Nirmala Sitharaman to address these pressing needs. The education sector requires a comprehensive strategy encompassing student financial support, innovative collaboration for skill development, and initiatives for sustainable growth. Such a budget would empower students, educators, and institutions, setting the stage for a future-ready India.
As the nation awaits the Budget announcement, the question remains: will the government rise to the occasion and deliver a budget prioritising education? The hopes of countless students, educators, and institutions hang in the balance. The answer will unfold soon, shaping the education trajectory in India for years to come.
