Expectations from Union Budget 2024 for the Education Sector

Expectations from Union Budget 2024 for the Education Sector
Mrs. Rajita Kulkarni - President, Sri Sri University

Mrs. Rajita Kulkarni, President, Sri Sri University said:

“The education sector received a substantial boost in the last budget, marked by the highest-ever allocation. Expectations for this year include additional momentum with measures to address skill development, increase employment, and promote entrepreneurship. To tackle challenges like skill mismatch, the government is urged to maintain its focus on youth education through increased vocational training institutes, technical and IT skill development, and enhanced analytical skills. This investment is envisioned to lead to increased employment, reduced income disparity, and overall economic growth. Future-oriented education, coupled with strategic collaborative efforts from industry and academia is essential for maximizing the impact of budget allocations.

In alignment with the rising trend of startups, the government should prioritize developing entrepreneurial skills among students. Fostering an entrepreneurial spirit envisions a future where students become job creators, contributing to economic growth. While the Start-up India and many other flagship programs were introduced, further efforts are needed, and educational institutes should be supported with budgetary allocations for their incubation and innovation centres. Support for design labs/maker spaces at educational institutes with cutting-edge facilities will facilitate deeper exploration and innovation.

The previous budget emphasized women-centric policies, including Free Skill Development, Beti Bachao Beti Padhao, and Digital Skilling Initiatives - there is optimism for sustained progress. A revamp of agricultural education is crucial for attracting talent, emphasizing the need for knowledge, technical skills, and supportive policies. As outlined in NEP 2020, maintaining high standards in agricultural education ensures graduates are well-equipped for national and international challenges. Additionally, a forward-thinking curriculum for integrative medicine is hoped for in the upcoming revisions.

The Union Budget 2024 is eagerly awaited as a potential catalyst propelling India's education sector to global leadership.”