Developing the digital education eco-system in India, making e-learning affordable for masses, making education loan cheaper and boosting the education expenditure are few of the expectations that the Education sector has from the Budget 2019.
NewsBarons connects with leaders from education institues and ed-tech startups to understand their demand from the upcoming Budget 2019.
While the upcoming Budget is crucial for all sectors, it is pivotal for the education sector. We expect to witness a higher allocation towards the education sector and provide useful and elementary education for all in the following budget. The Government must emphasize on education at all levels and rationalize taxes, including e-learning education programs and make them affordable for the masses. More government schemes for the education sector are expected to be introduced in order to provide the benefits to the faculty as well as the masses of the country. Rapid advancement in technology and business models are creating demand for reskilling of the workforce the Government should address this issue in the forthcoming budget. The Government should also reconsider GST rates on higher education and make education loan cheaper and the term period bigger, also partially exempt GST on outsourced services in higher education from 18 per cent to 5 per cent, to create low-cost educational institutions that offer services at all levels — primary, secondary and higher education.
As the union budget 2019, is around the corner my expectations for the Ed Tech sector are indeed more investment opportunities to develop the Digital Education eco-system in India. As expected, we will have 735 million internet users by 2021, so the Ed tech sector has a more significant opportunity to penetrate millions of students both in urban and rural areas seeking education. For the next year, I’m expecting growth in the Ed-tech sector in terms of reaching students through distance learning and reducing the cost of education. In the overseas education industry, I’m expecting collaboration opportunities between public and private sector institutions in India by introducing policies for more expansion in infrastructure, funds availability, private investment, easily accessible quality education, which will be bringing thousands of aspirant students from abroad to Indian institutes for education. Not only this will contribute to our GDP but will also help us rank among the top study destinations and have institutes ranking top in the list top 100.
Amol Arora, Shemford Group of Futuristic Schools
For any country, the most significant returns are those garnered from investments made in its children. The next generation is going to enter a globalized world and will be competing for jobs not just against other students but also innovative technologies that are quickly replacing human jobs. In order to keep our children in the competition, we need to ramp up our Ed-Tech sector in the years to come. To that end, Budget 2019 should give certain tax breaks to Ed-Tech startups to enable them to reach sustainable levels. The government should also grant financial incentives for organizations setting up educational institutes in rural and underserved areas. Currently, the private sector in education is viewed with distrust which is why concrete steps should be taken to show that public-private partnerships can be a win-win for all – delivering quality without fleecing the parents. The government has made significant strides in the direction of technology-enabled learning with the launch of SWAYAM, which offers free online courses by teachers from reputable institutions. Another notable achievement was giving more autonomy to institutions of higher education. The Prime Minister Research Fellows (PMRF) program has helped meritorious students tremendously. However, the promise to boost education expenditure to 6% of GDP is still a distant dream and quality of education in schools and colleges is still a worry. Most importantly, the implementation of policies & programs still remains a key challenge. We hope to see more from the government this year for this most vital sector of the economy.