Union Budget 2024: What education sector expects from upcoming Budget 2024| IN POINTS

Union Budget 2024: As the nation gears up for the first full budget of the BJP-led NDA government in its third successive term that will be presented by Finance Minister Nirmala Sitharaman on July 23, 2024, educationalists, experts and stakeholders are eagerly awaiting the government's proposals for transformative reforms. 

Those involved in the education sector are calling for significant reforms and increased investment in school education and also expressed hope for increased investment in education to boost entrepreneurship, innovation, and help the country become a knowledge power.

With this upcoming Budget Presentation, Sitharaman will surpass the record set by former Prime Minister Morarji Desai, who presented five annual budgets and one interim budget between 1959 and 1964 as finance minister Sitharaman's upcoming Budget speech would be her seventh.

What education sector expects from the Union Budget 2024?

• Experts in the education sector expect increased investment in education to boost entrepreneurship, innovation, and help the country become a knowledge power.
• Urging the government to reduce the GST slab on educational products and services from 18 percent to 5 percent, experts also expect changes in GST slab from the Budget 2024 in Education sector 
• Educationalist also expect the government to elevate the investment in education and similarly, the tech sector anticipates increased funding and supportive policies that can drive significant advancements in educational technology.
• Educationists are optimistic that the inaugural Budget of Modi 3.0 will allocate significantly more funds to the education sector, with a particular focus on research.

• They advocate for increased investment in research to promote innovation and stay abreast of global progress.
• Experts of the education sector also expect strengthening research capabilities is deemed vital for India’s advancement in science, technology, and other key fields.
• Experts also expect a robust tech infrastructure, generating jobs in high-demand fields such as AI, cybersecurity, and big data

- With inputs from agencies

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