Budget Wishlist: ‘Need for increase in public expenditure on Education’

By: | Updated: February 26, 2015 8:28 PM

The expectation from the upcoming Union budget is to increase public expenditure on Education along with incentivising the sector for private investment.

Budget expectations from Pearson India:

The expectation from the upcoming Union budget is to increase public expenditure on Education along with incentivising the sector for private investment. To improve India’s Gross Enrollment Ratio (GER) across schools and increase student retention, it is need of the hour that joint collaborative efforts between private sector and the government promote quality education for all.

Prime Minister Narendra Modi envisions making India the skill capital of the world. Union Budget 2015 does provide an opportunity for the Government to bring to the forefront policies and initiatives that will be undertaken to achieve this vision. Considering the focus of the government on ‘Make in India’ campaign, there is an anticipation for an announcement to make the vocational training environment more conducive which will help produce employable skilled workforce.

With so much buzz about Digital India programme, there is an expectation that digital education will be pushed in a big way and we are looking forward to some specific steps and budgetary allocations in the forthcoming budget.

The education industry also desires that the government reconsiders service tax on educational institutions which eventually leads to an increase in the cost of provision of educational services. Therefore, levy of service tax on educational institutions needs a re-look.

We anticipate sound policy initiatives to stimulate growth and sector-specific reforms in the education sector.

– By Deepak Mehrotra, MD, Pearson India

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition