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Union Budget 2024: What are pre-budget expectations for the education sector?

Union Budget 2024: What are pre-budget expectations for the education sector?

With the union budget 2024 just around the corner, India is setting high hopes for transformative reforms, including tax cuts, incentives, and a conducive regulatory framework. The country’s education sector is too optimistic about the upcoming budget and expects key announcements to address the mounting skill gap and future-proof the youth for Industry 4.0.

The past fiscal year witnessed the highest-ever allocation of Rs 1.12 lakh crore, reflecting a commendable emphasis on education. Looking ahead, the National Education Policy’s aspiration of allocating 6 per cent of the country’s GDP towards education serves as a crucial benchmark.

The forthcoming budget is poised to boost key initiatives like the Samagra Shiksha scheme, anticipating an increase from Rs 32,152 crores to Rs 37,354 crores.

Eklavya Model Residential Schools and the Skill India Programme, PM SHRI School, a centrally sponsored scheme initiated by the Government of India, are also expected to receive heightened attention, addressing the diverse educational needs of marginalised communities and contributing to the development of a skilled workforce.

”India has one of the world’s largest education systems and needs adequate government funding to develop the capability, infrastructure, and teaching talents required for harnessing the potential of our country’s young population,” says Neeta Bali, Director Schools, Seth Anandram Jaipuria Group of Schools.

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