Union Budget 2019 India: Vikas Singh, the MD of Pearson India, believes that the Union Budget has recognised the importance of technology in the country’s growth by announcing training of 10 million youth in industry-relevant skills such as AI, IoT and big data. “The move will enable India address the skills shortage, and also allow current talent pool to be future-ready,” he says. In an interview with FE’s Vikram Chaudhary, he adds that allocation of funds to build world-class institutes is a big foot forward in strengthening the roots of Indian education system. Excerpts:

How did the Union Budget 2019 fare for the education sector in general?
The Budget proposed major changes in education sector, from introducing the new National Education Policy (NEP) and National Research Foundation (NRF), to providing Rs 400 crore for world-class institutions.

The NEP will bring comprehensive changes in how education is imparted, with the focus on learning outcomes playing a big role. The NRF will reinvigorate research that is critical to building indigenous products and solutions.

To make India a hub for higher education, the government has announced Study in India, which can put India on the world map. We are confident that with a renewed focus on quality education and technology being the pivot, the Indian education sector will be benefited in the years to come.

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Do you believe enough initiatives been taken towards skill development?
The Budget did recognise the importance of technology in country’s growth and has proposed some promising ideas to prepare our youth for future jobs. Training of 10 million youth in industry-relevant skills such as AI, IoT, virtual reality, robotics and big data will enable India address the skills shortage and will also allow the current talent pool to be future-ready.

How do you view the proposed NRF?
The NRF will definitely help in creating the right ecosystem for R&D in the country. The focus on research and innovation and setting up the NRF with access to research funds from all government schemes will certainly help fund and promote research in the country.