Vice-Chancellors Advocate for Education Boost in Budget 2024-25

As Budget 2024-25 approaches, vice-chancellors from Delhi and Jawaharlal Nehru universities advocate for increased education investment to drive innovation. Experts also call for reduced GST on educational products and services. Finance Minister Nirmala Sitharaman will present the budget on July 23.

As the nation gears up for Budget 2024-25, vice-chancellors of Delhi University and Jawaharlal Nehru University have expressed hopes for increased investment in education to sustain entrepreneurship and innovation, propelling the country into becoming a knowledge power. Experts in the education sector are also urging the government to reduce the GST on educational products and services from 18% to 5%.

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2023 on July 23. This will be the first budget of the National Democratic Alliance (NDA) following their victory in the 2024 Lok Sabha elections. Speaking with ANI, Delhi University Vice-Chancellor Yogesh Singh remarked that the budget would set the tone for the 'Sankalp' of Viksit Bharat.

Commenting on education investment, Singh noted, "There is always a need to invest more in education, there is no debate on that. We are very happy and awaiting the Union Budget. The University of Delhi has been receiving adequate grants from the Government of India. Last year as well, we received sufficient funding. There’s always a need for more investment in education, and there is no debate on that."

JNU Vice-Chancellor Prof. Santishree Dhulipudi Pandit echoed similar sentiments, stating, "To become a knowledge power, investment in education must grow. Quality education for all will significantly enhance the quality and competitive edge of our graduates at both national and international levels."

Education sector experts have called for increased educational investment. The tech sector anticipates more funding and supportive policies to drive advancements in educational technology. Aarul Malaviya, founder of Zamit, believes this budget offers an opportunity to allocate funds for enhancing internet connectivity, modern devices, and equipping teachers and students to leverage these technologies.

Malaviya also hopes for initiatives promoting innovative learning technologies such as AI, virtual reality, and personalized learning platforms. Meanwhile, Praveen Singh, CEO of AASOKA by MBD Group, stresses the need to transform school and college systems.

Singh added, "To truly foster educational innovation and transformation, the government must increase the education sector's budget and reduce the GST slab from 18% to 5% on educational products and services. This reduction will significantly improve access to affordable, high-quality education for all." Lowering the GST rate on upskilling programs in the upcoming Union Budget will democratize access to quality education, fostering innovation and employability.