Experts support the Union Education Budget 2024 for its focus on youth, employment, and skilling. Initiatives like paid internships, ITI upgrades, and skill development programs are praised for their potential to enhance employability.
However, experts highlight areas for improvement, such as integrating advanced technology in education and increasing support for international education. They believe these enhancements will better equip Indian youth to meet global job market demands.
Experts opinion on Union Education Budget 2024:
Parag Ganu, CFO- Kotak Education Foundation, said, “The emphasis on education and skills in the Union Budget 2024 is indeed admirable. By prioritizing these areas and introducing internship opportunities, the government is demonstrating a clear commitment to improving educational outcomes and preparing students for the future workforce. The provision of financial support for higher education and the implementation of an e-voucher system are especially significant. Empowering youth fosters a more capable and competitive workforce, which is crucial for driving innovation and economic growth in the long run.”
He further added, “Overall, the steps taken in the Union Budget 2024 towards education and skills development are indeed a positive stride towards building a brighter future for our country.”
Praveen Singh, CEO of AASOKA by MBD Group, said, “The Union Budget 2024-25 for its ₹1.48 lakh crore allocation to education, employment, and skilling. He highlights the revised skilling loan scheme, ITI upgrades, and new skilling initiatives. Singh believes these measures will significantly boost access to education and workforce development.”
Sachin Jain, Country Manager, ETS India, and South Asia, said, “The Union Budget FY 24-25 focuses on youth, employment, and skilling. The Rs. 2 lakh crore allocation targets 4.1 crore youth. Initiatives like DBT support and ITI upgrades are promising. However, integrating soft skills, such as English proficiency, is essential. Standardized tests ensure fair, objective assessment for all students.”
Saurabh Arora, Founder & CEO, University Living, said, “The 2024 budget builds a skilled, future-ready India. Allocating Rs. 1.48 lakh crore for education and skilling is significant. Prioritizing youth skilling, ITI upgrades, and industry-aligned course content is commendable. Financial support for higher education is encouraging. Increased support for international education will enhance India’s global educational stance.”
Higher Education Experts on Union Budget 2024:
Mr. Aritra Ghosal, Founder and Director of OneStep Global, said, “The government’s focus on skilling and higher education is commendable. Initiatives like internships in top companies and education loans empower youth. However, financial support for overseas education needs attention. Lowering interest rates on international education loans would ease financial burdens and boost global competency.”
Mr. Kunal Vasudeva, Co – Founder & Managing Director, Indian School of Hospitality, said, “The ₹1.48 lakh crore allocation for education, employment, and skilling is a major win. It will train 20 lakh youth and upgrade 1000 institutes, fostering hyper-local job creation and boosting the manufacturing sector. Education loans of ₹10 lakh with interest relief will make quality education more accessible, driving us towards a $10 trillion economy.”
Mr. Shishir Jaipuria, Chairman of Seth Anandram Jaipuria Group of Educational Institutions, said, “I appreciate the Union Budget 2024-25. It emphasizes skill development and employment. Key initiatives include employment-linked incentives, upgraded industrial institutes, education loans, and internships. These measures aim to empower youth and improve higher education enrollment for Viksit Bharat.”
Dr. Latha Krishnan, Dean-MBA, IILM University, said, “I congratulate the government for a 6.8% increase in the Education Ministry’s budget. PM POSHAN’s allocation rose by Rs 800 crore. The Centre pledged Rs 1.48 lakh crore for education and skills, with loans up to Rs 10 lakh for higher education. UGC funding dropped by 60.99%.”
K-12 Experts Opinion:
Amit Baveja, Managing Director of Burlington English, India & Southeast Asia, “The Union Budget 2024’s initiatives for digital infrastructure and education are commendable. Focus on skilling and education is crucial. Additional support for K-12 learning and educator upskilling is needed. Collaboration with educational organizations will broaden upskilling opportunities. Reducing GST for skilling institutions will augment the sector.”
Ajay Gupta, Founder & CEO, Bachpan Play School, said, “I appreciate the Union Education Budget 2024 for balancing knowledge and innovation with vocational training. Initiatives like educational loans, ITI upgrades, and internships boost intellectual capital and skills. However, he notes that accessible infrastructure and digital access still need improvement despite increased budget allocations.”
Mr. Ujjwal Singh, Founding CEO, Infinity Learn by Sri Chaitanya, said, “Finance Minister Nirmala Sitharaman’s budget enhances education accessibility and affordability. This fuels teachers’ aspirations and opportunities, ensuring quality education. The new medical colleges in Bihar encourage us, aligning with our Patna Test Prep Centres’ success in competitive exams. We’re motivated to nurture exceptional doctors and improve Bihar’s healthcare infrastructure.”
Also Read | What India Expects Around Education and Career from the New Government?
The Union Budget 2024-25 takes significant strides toward empowering India’s youth through extensive skilling and education initiatives. The substantial financial allocations and targeted programs promise a brighter future for the workforce. These efforts will undoubtedly enhance employability and foster economic growth across the nation.
Furthermore, collaboration with educational organizations and international institutions will bolster these initiatives. Emphasizing digital infrastructure, global mobility, and critical soft skills will ensure a future-ready workforce. We eagerly anticipate the positive impact of these measures on India’s education and employment landscape, driving progress and prosperity.