As the Union Budget 2024 is around the corner, the education sector urges the government to elevate the investment in education. Experts from the education sector believe that if India aims to position itself as a developed economy in the next two decades in alignment with Prime Minister Narendra Modi’s vision of ‘Viksit Bharat’, it is crucial to prioritise the education of children, the true architects of our nation’s destiny. “The proposed increase from 2.9% to 6% in the upcoming budget is not just a financial commitment but a strategic move towards empowering our youth with the skills and knowledge required to lead the nation into a prosperous future. By prioritising education, we are laying the foundation for an innovative and globally competitive India,” Manish Rastogi, Whole-Time Director and Chief Executive Officer, Zee Learn Ltd, said.
Linking teachers’ salaries to their qualifications is a strategy designed to promote ongoing professional development throughout their careers. This approach not only aims to elevate the quality of education but also rewards educators for their commitment to growth, as per the experts. “Essential to this strategy are robust teacher training programmes, regular assessments and feedback mechanisms involving parents and students. Transparent reporting systems are also crucial, as they help address any deviations in educational quality through continuous monitoring and feedback loops,” Rastogi added.
Reflecting on the current educational landscape, Aishwarya Rao, Director of The Vivekalaya Group of Institutions, highlights the significance of recent budgetary allocations. She states, “Our expectations are shaped by the recent trends and significant allocations in the education sector. The notable increase to Rs 68,805 crore for school education and Rs 44,095 crore for higher education in the 2023 budget reflects a commendable commitment to strengthening our educational framework. We hope to see this trend continue, particularly with a focus on augmenting digital infrastructure and teacher training programmes. These are critical areas that require substantial investment to ensure equitable and quality education for all students.
Adding to that she said, “We anticipate targeted funding for innovative educational technologies and inclusive education initiatives, which are essential for preparing our students to thrive in a rapidly evolving global landscape.”
On the other hand, Kunal Vasudeva, Co-Founder and Managing Director of Indian School of Hospitality, stresses the urgency of accelerating the implementation of the National Education Policy (NEP) 2020. He warns, “After the introduction of the NEP 2020, it is crucial to accelerate its implementation. Without swift action, we risk stagnation in our educational advancements and miss the opportunity to prepare our students for a rapidly evolving global landscape.”
He further believes that Institutions, particularly niche ones, must be granted autonomy swiftly with appropriate safeguards in place. This autonomy is vital for the nation’s growth, especially in specialised sectors. If this does not happen now, we face the danger of stifling innovation and falling behind in global competitiveness.
Looking ahead, we advocate for the introduction of targeted schemes and increased budgetary allocations in crucial areas such as Early Childhood Care and Education (ECCE), teacher training and the development of skill-based courses for K-12 students. These strategic investments are essential for cultivating a strong and dynamic educational ecosystem, Rastogi stated.