The Budget session of the Parliament is all set to begin from today and is going to be presented by Finance Minister Nirmala Sitaraman tomorrow, i.e. February 01, 2022. However, the expectations in the education sector from various stakeholders for the upcoming budget is quite high. From technological advancements in terms of connectivity and gadgets to less GST, the list almost seems to be endless. Let’s take a look at the expectations from this year’s Union Budget.
1. Teaching and learning have almost shifted to the online mode amidst the COVID-19 pandemic due to which technology has become a salient part of it. Hence, technological integration in early childhood education by facilitating internet access and learning resources is expected. Moreover, rightful financial support is also the need of the hour.
2. This budget is likely to have a higher focus on the EdTech sector. The digital sector needs improvement due to which significant investments are needed. However, the existing GST is at 18% which needs to be brought down to 5% in order to provide accessibility to the students belonging to middle-class families.
3. The education sector has never touched the 6% GDP mark in the country, despite many promises. It is pleaded that the government sets up a new scholarship that is named ‘The Indian Corporate Higher Education Scholarship’ for which contributions can be solicited from the top 1000 corporations in the country, said YSR Murthy, the founding Vice-Chancellor of RV University, Bengaluru.
4. There are four segments in terms of which the young generation has certain expectations. These are education and skill development, better infrastructure, improved employment opportunities along with safety and security. Moreover, the telecom companies also need attention to develop their infrastructure.
5. It is expected that the Union Budget 2022 will play a major role in solidifying economic resilience across different sectors. Since the EdTech companies have leveled up their competition, the government should ensure that long-term sustainability is maintained in the higher educational institutions. Overall, this budget is expected to accelerate digital innovations.
6. According to Anil Sahani, MD of Sahani Group, the education employability gap cannot be bridged by the Indian government alone. For that, it needs support from the private sector as well. This, to uphold that, the government can reduce the GST rate to provide educational technology and ancillary services. Additionally, private investors should also be given the opportunity to set up schools and colleges.
