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 Vishnu Manchu, Pro-Chancellor, Mohan Babu University

Vishnu Manchu, Pro-Chancellor, Mohan Babu University
“As an educational institution, we applaud the government’s focus on skill development highlighted in the Budget. The Skill India Mission, having trained 1.4 crore youth, up-skilled and re-skilled 54 lakh youth and established 3000 new ITIs, aligns with our commitment to fostering a skilled and empowered workforce.
Furthermore, the Budget’s focus on promoting entrepreneurship through schemes like PM Mudra Yojana, Fund of Funds, Start-Up India and Start-Up Credit Guarantee is a testament to the government’s dedication to fostering an environment conducive to entrepreneurial aspirations. The recognition of the transformative impact of new-age technologies and data, coupled with the emphasis on innovation and entrepreneurship, resonates well with the educational landscape. The allocation of Rs 1lakh crore corpus for long-term, low-interest loans to encourage private sector research and innovation in sunrise domains is a positive step towards nurturing a culture of research and development among our tech-savvy youth.
Our vision for ‘Viksit Bharat’ is of a Prosperous Bharat in harmony with nature, featuring modern infrastructure and providing opportunities for all citizens and regions to reach their potential. However, realizing this vision depends on implementing growth and development-enabling reforms at the State level. The budget underscores the need for concerted efforts and reforms in each State to transform this vision into reality. Navigating the post-budget landscape, we remain hopeful for collaborative initiatives that will propel this vision into action.”
- Rishabh Khanna, Founder of Suraasa
Rishabh Khanna, Founder of Suraasa
“The recent Budget’s emphasis on youth empowerment and skill development is a testimony of the Indian government’s commitment to advancing the nation’s educational landscape. The strategic initiatives aimed at addressing teacher shortages and implementing transformative reforms under the National Education Policy (NEP) 2020 are commendable. The anticipated support for technology-enabled education, particularly in tier 3+ towns and the emphasis on digital infrastructure, teacher training and vernacular education, is expected to significantly enhance the learning experience of our students.
At Suraasa, we remain dedicated to skill development of teachers for the 21st-century and transforming their careers. This Budget aligns seamlessly with our objectives and we look forward to leveraging these opportunities to further empower our educators and contribute to the growth of the education sector.”
- Dr Asmita Chitnis, Director, Symbiosis Institute of International Business (SIIB) Pune
Dr Asmita Chitnis, Director, SIIB Pune
“The Indian government’s Budget 2024 initiatives for education are noteworthy. With a substantial allocation of Rs 1.12 lakh crore, including Rs. 44,095 crore for Higher Education, a skilled workforce is prioritized. The observed 28 percent increase in female Higher Education enrolment over a decade underscores efforts towards inclusivity. The commendable achievements of the Skill India Mission, training 1.4 crore youth and upskilling 54 lakh individuals, are instrumental in bridging skill gaps. Notably, 43 percent of STEM course enrolees are female, reflecting strides in gender inclusivity. These measures promise a brighter future for India’s youth and signify a positive trajectory for national development.”
- Dr Tulsi Jayakumar, Professor, Finance & Economics, Executive Director, Centre for Family Business & Entrepreneurship, Chairperson, Post Graduate Programme in Family Managed Business at SP Jain Institute of Management and Research (SPJIMR)
Dr Tulsi Jayakumar, Professor, Finance & Economics, Executive Director, Centre for Family Business & Entrepreneurship
“Today’s Budget, although a Vote of Account, is important for the policy directions provided were the government to come back to power in the Lok Sabha Elections 2024. The biggest challenge today is to revive animal spirits and promote private investment. The Finance Minister has announced an increase in government outlay by 11.1 percent on capital expenditure. This together with a reduction in the Fiscal Deficit -government borrowings essentially — from 5.8 percent of GDP in 2023-24 to 5.1percent of GDP in 2024-25, is expected to facilitate greater borrowings by private sector. Such capex had increased by 33 percent in the previous budget as well, however had not really spurred private investment. The challenge for the government will be to ensure private final consumption expenditure to increase and keep the inflation under control.”
- Anitha Rangan, Economist, Equirus
Anitha Rangan, Economist, Equirus
“With a new definition to GDP (Governance, Development and Performance), with a sharp focus on fiscal consolidation, the interim Budget has demonstrated that the direction of the government is on long term growth. Fiscal deficit to GDP at 5.1percent for FY25 along with outperformance in FY24 at 5.8 percent (versus 5.9 percent target) demonstrates government’s commitment to not go the populist way. But at the same time, focus on the four pillars of social governance viz. poor, women, youth and farmers, government’s direction in Amrit Kaal is towards an inclusive growth with is sustainable and non-inflationary. Capex growth estimated at 11.1 percent is reasonable.
Market borrowing is lower for FY25 versus FY24. In the era where the global world is struggling to rein in fiscal deficit and borrowing, India adopting the path of consolidation and reduction in borrowing showcases its macro stability. Finance Minister Nirmala Sitharaman has also reiterated the glide path of below 4.5percent for FY26. As expected, despite being an election year, there was no touch of populism – Outcome versus Outlay. In summary, the interim Budget has a stamp of finality that this government is focused on growth, but structural, sustainable and non-inflationary growth.”