‘Budget has recognised education as a cornerstone for future prosperity’

 ‘Budget has recognised education as a cornerstone for future prosperity’

Team L&M

Education sector welcomes budget. This is what different players in the industry have to say:

Er Koneru Satyanarayana, Chancellor, KL Deemed to be University
We appreciate the recent budget as the government is focusing on youth empowerment, particularly through the NEP2020 and the progressive PM SHRI initiative. Recognising education as a cornerstone for future prosperity, the allocations for establishing new institutions and advancing skill development via the Skill India Mission are promising indicators of a forward-looking approach. Notably, the budget’s emphasis on inclusivity, manifested in the Mudra Yojana supporting women entrepreneurs with 30 crore loans, is a commendable stride.  The considerable surge in female enrolment, especially in STEM courses, marks a positive shift towards gender equality in education. The establishment of IITs, IIITs, IIMs, AIIMS, and universities further fortifies our education infrastructure.

Ritesh Kumar, Country Lead, Wiley in India
We are encouraged by the Union Budget’s emphasis on research and innovation exemplified by the Rs. 1 lakh crore corpus. This strategic investment holds the potential to nurture a culture of knowledge and innovation in India, presenting exciting prospects for young researchers and entrepreneurs. The emphasis on sunrise sectors and deep tech for defense further amplifies these opportunities.
The sustained commitment to the National Education Policy (NEP) is noteworthy, as it has the potential to shape a generation of innovative thinkers, contributing to our country’s self-reliance and global competitiveness. Wiley, in alignment with these goals, is poised to support the higher educational landscape in India.
Additionally, the Budget’s continued momentum for Nari Shakti aligns with our values of diversity and inclusion. The rise in female enrollment in STEM courses and support for women’s entrepreneurship are positive strides toward a more equitable future. Wiley’s commitment to providing educational resources and material in STEM underscores our dedication to preparing learners for rewarding careers.

Col. Gaurav Dimri, HR Director, Sharda University
In this direction, the govt has rightly identified in budget 2024 that Youth is one of the four major pillars of development and accordingly the interim budget 2024 has made provisions to address the high aspirations of youth with an agenda of empowerment and upskilling.:-
1. Setting up medical colleges utilising existing infrastructure is a right step in this direction to enhance scope of medical education & research as well benefit the healthcare sector.
2. Creation of a corpus of Rs 1 lakh crore corpus dedicated towards integration of youth with research & technological development which provides for long term financing of R&D projects and entrepreneurial ventures through long tenure funding at low/ nil interest rates is a giant step to promote and scale up research.
3. The provision of support for defence sector related R&D and projects is also a welcome measure.

CA Gopal Gupta, Joint Registrar, Finance and Accounts, Sharda University
This is the average interim Budget presented today by Finance Minister. Budget disappointed the salaried class as there is no change in Tax slabs,  it was expected that there will be increase in deduction or some change in Tax slab. Duties etc. remains the same. No major big announcement by the Government.
However, Govt. Emphasis on education sector by taking a goal of setting up more than 300 Universities and form of committee for setting up new medical colleges to fulfill the need of medical students and improvement in Healthcare services also Govt. set a Target to provide 2 crores New houses to poor in Rural Area and Free Electricity (up to 300 units) to 1 crores Houses through Solar.

Prof Avinash Sinha, Professor Management, Sharda University
The number of tax payers to increase as expected to widen the tax collection network for efficiency in volumes. The tax bracket has been left unchanged , the benefit was expected for salaries individuals which has not happen.

Dr Hari Shankar Shyam, Chairperson-Executive Education at Sharda School of Business Studies Sharda University
I am delighted to see the substantial allocation of funds for 50 year interest free loans to tech savvy youths. This will help our economy to produce many unicorns in near future and many youths will take the path of entrepreneurship. At the same time this fund will be utilised for developing various technical products indigenously which will help our economy to become trillion dollar economy. It will also help in reducing our fiscal deficit as IT related exports will increase and there is a substantial reduction in depending on imports. This fund will become boon for many incubators for startup’s across the country.

Dr Manjula Pooja Shroff, Founder & MD, Kalorex Group
The budget’s focus is on empowering people, especially women and youth, through holistic welfare and growth opportunities. It is heartening to note that girls constitute 43 per cent of students enrolled in STEM courses, one of the highest in the world. Measures to boost the availability of finance for women entrepreneurs are helping them make a greater contribution to economic activities. Announcements related to setting up more medical colleges, cervical cancer vaccination, maternal and childcare, and the gradation of Anganwadi centers reflect the government’s commitment to augmenting healthcare and improving nutrition delivery. The setting up of a corpus of Rs1 lakh crore to provide long-term financing will spur research and innovation in sunrise domains and open new opportunities for the youth.

Dr Subir Verma, Director, FORE School of Management, New Delhi
The Budget brings light to the idea of Atmanirbharta and the government’s goal of making the youth of India more skilled and increasing employment opportunities for them. The Budget firmly stands by the idea of a developed India and gives more autonomy to the key pillars of the society. It will help create more avenues for the Startups and create explosive growth by driving innovation and expediting reforms in sectors of national importance. The National Education Policy 2020 is ushering in transformational reforms and with initiatives like Skill India Mission, Mudra Yojana loans and PM ScHools for Rising India (PM SHRI), India will reach its goal of Developed Bharat. We are all together with PM Modi in his vision of making India the Vishwaguru a reality.


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