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Why India needs a good Education Budget to become Atmanirbhar?

January 11, 2021

Union Budget 2021-22 Expectations for Education: India has been taking measures to counter the devastating impact of the Covid pandemic. Along with other key sectors, Education too needs the Central government support on Budget 2021. The Education sector witnessed a key development last year in form of National Education Policy 2020 (NEP-2020) which was unveiled by the Narendra Modi government to bring reforms. However, the implementation of ‘NEP 2020’ requires an increase in spending on education, and Finance Minister Nirmala Sitharaman in the upcoming Budget 2021 may perhaps look to make substantial announcements in this regard. Apart from the NEP 2020, Budget 2021 also needs to focus on skill development as India is aiming to become self-reliant or “Atmanirbhar”.
“The New Education Policy suggests increasing the spending on education from 10 percent of total government expenditure to 20 per cent by 2030. So, we are hopeful that the government will increase the education expenditure in the current education budget. A good education is a fundamental right in India, and there is a strong correlation between public investment in education, child development, and empowerment. The more the spendings on higher education institute’s CTE program, the more we will be able to produce the skilled workforce required to keep a country functioning. The program is long overdue for a boost; the last twenty years of education reforms have emphasized college preparedness over blue-collar work,” said Dr. R.L. Raina, Vice-Chancellor, JK Lakshmipat University, Jaipur.
“As we are looking for ways to become self-reliant, the much-awaited Budget 2021 should focus more on skill development and re-skilling of youth. These factors are essential for enumerating education, employment and skills development. The education sector is facing enormous challenges due to the ongoing pandemic and the budget is going to play a pivotal role in reviving the education system. Our new National Education Policy (NEP) 2020 has already set the pace for the development of the education sector in India. Competence and lucidity in the use of budget allocated to the education sector remain a key aspect. The focus should be on getting more children benefitted on per rupee spent,” said Ankit Shyamsukha, CEO, ICA Edu Skills.
“In India, the core services of schools, colleges and universities have always remained outside the purview of GST. However, out-of-school education like hobby classes, sports training, coaching for different student needs, etc. are taxed at 18 per cent. In the current structure, this tax ends up getting passed-on to the students and parents, adding to affordability issues. It is pragmatic to understand that supplementary education plays a big role in grooming our country’s talent. Reconsideration of GST slab on supplementary education can give a significant boost to industry efforts to democratising access to quality education,” Mihir Gupta, Co-Founder and CEO, Teachmint said.
Source: Financial Express

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