10 key education sector expectations for Union Budget 2024

Jul 19, 2024 Credit: iStock

Interim Budget 2024-2025

The 2024-25 Interim Budget saw a historic increase in funding for education, with the Department of School Education and Literacy receiving over Rs 73,000 crore – the largest allocation ever made. We identified 10 key areas for the distribution of this budget. Credit: iStock

GST exemption

The industry seeks a complete exemption on all educational expenses to make education more affordable. Credit: iStock

Focus on accessibility

Stakeholders want increased government efforts to make quality education accessible, especially for underprivileged students. Credit: iStock

Skill development

Fostering collaboration between fintech and educational institutions is seen as crucial for improved skill training. Credit: iStock

Alignment with job market

The education sector desires an education budget aligned with current job market demands. Credit: iStock

Workforce enhancement

Industry leaders emphasise the need for upskilling in areas like digital finance. Credit: iStock

Tax incentives

Tax breaks and subsidies are sought to reduce operational costs for educational institutions. Credit: iStock

Investment in R&D

Increased funding for research and development in the education sector is desired. Credit: iStock

Public-Private Partnerships

The industry wants government support for PPPs in green skill development initiatives. Credit: iStock

Green skill development

Establishing Green Skill Academies across states is seen as a priority. Credit: iStock

Support for climate tech and AI

Earmarking funds to support climate technology and AI startups is considered vital. Credit: iStock