The unveiling of Union Budget 2024 on February 1 by Finance Minister Nirmala Sitharaman garnered widespread attention, focusing on economic policies dedicated to fostering growth, promoting inclusive development, enhancing productivity, and creating opportunities for various segments of society.
In a significant development, the education sector witnessed an augmented budgetary allocation, receiving Rs 73,008.10 crore for the 2024-25 fiscal year, as outlined in the interim Budget. This announcement has generated keen insights and opinions from esteemed educationists. Brainfeed magazine is dedicated to showcasing noteworthy quotes from these specialists in the coming days, providing a comprehensive perspective on the impact of Union Budget 2024 on the education landscape.
We are pleased to present the insights of Dr Sasangan Ramanathan, Dean and HoS, Amrita University
Dr Sasangan Ramanathan, Dean and HoS, Amrita University
“The announcements in the interim Budget are welcome. The decision to create a corpus fund to provide long-term loans for research and development would be a game-changer for the research and education ecosystem in India. Government’s focus on new-age technologies and data is going to give a big boost to Higher Educational institutions. The increased female enrolment in higher education to 43 percent in STEM (science, technology, engineering and mathematics) courses is welcome news. We are hopeful of some path-breaking announcements in the full budget in July with respect to Higher Education institutions.”
- Dr Sanjay Gupta, Vice Chancellor of the World University of Design
Dr Sanjay Gupta, Vice Chancellor of the World University of Design
“As a design university, we enthusiastically welcome the government’s acknowledgement of ‘Nari Shakti’ and its commendable efforts in advancing female education, especially in STEM courses. The commitment to empowering women transcends education, as one can see it being reflected in various reforms. Furthermore, the emphasis on new-age technologies and allocating Rs 1 lakh crore corpus for research and innovation heralds a big opportunity for our tech-savvy youth. This forward-looking budget resonates with our university’s mission to cultivate creativity, innovation and inclusive progress in design education.
We are poised to leverage these opportunities to inspire the next generation of designers and contribute to the transformative landscape of design in India.”
- Vishnu Manchu, Chief Executive Officer, Sree Vidyanikethan Educational Trust
Vishnu Manchu, Chief Executive Officer, Sree Vidyanikethan Educational Trust
“In the wake of Budget 2024, we applaud the government’s continued emphasis on skill development and the transformative reforms introduced through the National Education Policy (NEP) 2020. The allocation of resources to foster equal opportunities in education is particularly commendable. This budgetary focus reinforces the crucial role of skill development in shaping a future-ready workforce, aligning seamlessly with our commitment to providing quality education.
As a school, we believe that equal opportunities lay the foundation for a thriving and inclusive society and we look forward to contributing actively to the realization of these initiatives for the holistic development of our students.”
- Dr Harishchandra Mishra, Chairman, Aditya Group of Institutions, Mumbai
Dr Harishchandra Mishra, Chairman, Aditya Group of Institutions, Mumbai
“The interim Budget is a progressive budget towards Vikasit Bharat. It strengthens commitment towards the welfare of the poor, youth, women and farmers.
Our vision for a developed India is reflected in this year’s budget focus on education and skill development given the country’s goal of becoming the third largest economy by 2030 and its vision for Amrit Kaal 2047.”
- Dr Prof Anand Achari, Principal, Vivekanand Education Society’s College of Architecture
Dr Prof Anand Achari, Principal, Vivekanand Education Society’s College of Architecture
“At VESCOA, we appreciate the Budget’s focus on empowering the youth for a prosperous future. The significant impact of the Skill India Mission, training 1.4 crore youths and upskilling 54 lakh individuals, aligns seamlessly with our commitment to skill development. As we navigate the educational landscape, we are encouraged by the initiatives that prioritize quality teaching and nurture well-rounded individuals. The rise in female enrolment reflects positive strides towards gender inclusivity, contributing to the increasing participation of women in the workforce.
Within these achievements, we also acknowledge the potential impact of a heightened focus on Research and Development (R&D), which could have further amplified the transformative era in education. As we look to the future, we express our anticipation for strategic initiatives that place increased emphasis on R&D, fostering innovation, improving learning outcomes and propelling our nation’s educational advancement.”
