Budget 2024: Education sector hopes for groundbreaking reforms and funding boost

With the Union Budget 2024 on the horizon, the education sector is poised for transformative announcements. Key stakeholders are calling for robust investments in digital infrastructure, research funding, and reskilling initiatives to enhance educational quality and accessibility.

As the Union Budget 2024 approaches, the education sector anticipates significant announcements that will determine the future of education in India. Stakeholders from many educational institutions have expressed their desire for large investments and reforms that may result in genuine improvement. Industry experts have identified the development of a strong digital infrastructure to facilitate hybrid learning models as one of the most urgent demands…

…MAKING INTERNATIONAL EDUCATION MORE ACCESSIBLE

Vandana Mahajan, Founder and Director Futures Abroad says, “The biggest challenge today is the rising tuition fees and cost of living for higher education in foreign countries, especially with inflation at its peak. To support the global mobility of India’s young talent, policymakers should allocate resources that facilitate international education. Key initiatives should include fostering collaboration between Indian and international universities and creating avenues for cross-cultural learning and research opportunities.”

Additionally, offering lower interest rates on education loans will alleviate financial burdens for students and their families, enhancing access to education at the destination of their choice. Reducing air travel fares is also crucial to making global education economically viable for a broader demographic of students. These efforts will foster cultural exchange and elevate India’s representation on the global academic stage.

Industry leaders are optimistic that focused investments and reforms will address crucial requirements and promote a stronger, more inclusive, and forward-thinking educational environment in India. By prioritising digital infrastructure, research funding, reskilling initiatives, and practical training facilities, the government can pave the path for significant educational improvements and, as a result, the nation’s long-term growth and development.