How the interim budget can propel India’s education and learning potential

By Neeti Sharma

As the anticipation builds around India’s interim budget for 2024, all eyes are on the government’s strategies to propel the nation forward. Although major announcements may not be imminent in this interim budget , there is likely to be a continued focus on creating a skilled youth workforce which will be the catalyst to propel India forward as it continues its growth to become the third-largest economy by 2030.

For decades, China has been the manufacturing capital of the world, however, recent global headwinds have prompted several manufacturing firms to rethink their approach and look at India as a viable option, considering the abundant availability of human capital. However, making India a long-term and sustainable option for manufacturing involves the prioritisation of Prepare , Repair and Upgrade talent, particularly in emerging technologies such as artificial intelligence, data science, and machine learning.

The education landscape in the country has been evolving rapidly, and stakeholders are looking to the government for strategic allocations that will fortify and uplift the sector.

While the interim budget primarily focuses on the allocation of funds and financial matters, it can play a crucial role in supporting the implementation of the NEP 2020. Focus on areas such as Teachers’ Training, Digitalisation and Technology Integration, Industry- Academia collaborations and Skills based Education programs can play a crucial role in supporting the implementation of NEP 2020.

Sectors such as EV Manufacturing, Renewables Energy, Healthcare , Biotech and Agritech are gaining momentum and are bound to create many new jobs in the near future. Skills such as Data analysis, precision agriculture, remote sensing, and automation technologies in agriculture sector, expertise in molecular biology, AI and data engineering, EV hardware and software engineering, bioinformatics, genetics, laboratory techniques, data analysis, and bioinformatics will be needed in these sectors . Initiating skill development for these emerging sectors through the budget is essential to guarantee an adequate supply of skilled workforce.

There is also a dire need for the budget to focus on skilling expansion in the rural sector, especially with the rise of agricultural technologies in recent years. Skills such as geo-tagging and remote crop monitoring are critical and the interim budget must focus on expanding such skills among the rural farming and agricultural community. The agricultural sector is constantly battling various challenges such as inconsistent weather patterns and inflationary pressures and the use of technology could help in mitigating some of these challenges. Furthermore, expenditure on skill development such as digital literacy and vocational training beyond traditional farming can also help the rural population adapt to the dynamic job market and create sustainable livelihoods.