What EdTech Founders, Ed Leaders & Investors Say About Union Budget for Education

Union Budget on education

Raghav Gupta, Managing Director, India and APAC, Coursera:

"The Union budget 2022 has laid much-needed focus on the education sector. From assuring funds for R&D, innovation, and growth, to emphasizing the need for digitization, the Government has taken a practical and contemporary view to benefit masses across the spectrum of elementary, secondary, and higher education. The pandemic affected learning at numerous levels - from academic exposure to the medium of instruction to evaluation of the core course content and construct in some cases, education institutions, academicians, online platforms, and other key stakeholders have worked together in the past 2 years to innovate and offer solutions on the back of technology to keep the learning going. Enhancing e-content quality, launching a portal for upskilling, instituting digital universities, and easing operations of foreign universities will not only enhance a student/learner’s exposure but will seamlessly integrate offline and online modes of education to enhance learning outcomes. We congratulate the Indian Government for presenting a progressive and promising budget that furthers the cause of digitization, governance and learning, and growth for all. We are confident that the year 2022-23 will be a turning point in the history of Indian education as we move towards building an inclusive, digitally empowered, and technologically advanced education system for all."

Akshay Munjal, Founder & CEO, Hero Vired:

"We welcome the government's thrust towards upskilling the youth and digitization in the Union Budget FY 23 announced today. New initiatives such as digital DESH e-portal for skilling, the expansion of PM's eVIDYA scheme, and a digital university are not only innovative but also an encouraging boost to the education sector; and will provide students with equal opportunities across rural and urban regions. While we were hoping for the rationalization of 18% GST in online education services and some tax rebate online learning programs, we are excited to see the government adopt a collaborative strategy that allows world-class universities to offer courses in financial services and technology free of Indian regulations in the GIFT city. Moreover, it is heartening to see that the Budget also included steps for the empowerment of teachers, enabling them to facilitate better learning outcomes. Finally, we are thrilled about the animation, visual effects, gaming, and comics (AVGC) Taskforce, as it has the potential to create immense employment opportunities for the youth."

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Akshay Chaturvedi, Founder & CEO, Leverage Edu:

"I believe the 2022 budget is focused around smart digital expenditures in not just education, but across sectors! A very forward-looking budget in my opinion that will enable startups to take lead in India's next phase of development. Introduction of the e-passport facility will decrease friction in the immigration process and I look forward to Indians getting access to such world-class tech. Lastly, steps like capping off long-term capital gains at 15% clearly position this as a document which heard and implemented feedback from all quarters, and that’s amazing!"

Anirban Bhattacharya, AVP – Partner Schools, Seth Anandram Jaipuria Group of Schools:

"The proposals in the Union Budget 2022 aim to ensure recovery of learning loss witnessed during the pandemic by expanding and strengthening the digital learning ecosystem in India. Firstly, the proposal to create the Digital University will ensure that learning can continue uninterrupted for students across the country. The decision to create 750 virtual science labs and 75 virtual skilling labs will make learning experiential and practical. Another important takeaway is the push to promote the startup culture by introducing courses for skilling in select ITIs."

The Finance Minister said the one class one TV channel programme under the PM e-Vidya scheme will be expanded from 12 to 200 TV channels, which will enable states to provide supplementary education in regional languages for classes 1 to 12 students. Sitharaman projected India’s growth at 9.27 percent in the coming year.

About the Author
Author: Stephen Soulunii
Stephen Soulunii No more a student, but love to learn. Not a teacher, but care about how students are taught. Not an educator, but want everyone to be educated. Not a social worker, but desire to see change. Not a reformer, but always want to see a better world. The author believes that only sound education can bring a better future, better world and technology can help achieve a lot in this field.

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