Education Sector Union Budget 2023 Expectations: Union Finance Minister Nirmala Sitharaman is going to present the budget for the next financial year 2023-2024 of the government. Various sectors in the country are pinning high hopes on the Union Budget 2023-24. On the other hand, the education sector has high expectations from the budget 2023-24. This is the first year after the Corona Pandemic, when students have started going to school and college for studies. Know what is the special hope of this sector.
Page Contents
Increase in public investment on education
The Education Commission on the Budget (1964–66) recommended that at least 6 per cent of GDP should be spent on education, to create a noticeable rate of increase in educational attainments. The National Education Policy, 2020 has laid emphasis on making public investment on education 6 per cent of GDP. Although India’s education budget has never been able to touch this number. It is just around half of the required percentage. It is expected that the upcoming budget can make adequate public investment on education to take young India on the path of development.
GST deduction on educational services
GST generates a lot of revenue for the central government, it has been made mandatory. Which is very useful for giving subsidy to poor categories. It is expected that the government is planning to drastically reduce the GST on educational services to help boost the growth of this sector. It can be completely removed for a specified period.
budget for teacher training
In the financial year 2021-22, the budget allocation for teacher training and higher education was Rs 250 crore, which has come down to Rs 127 crore in 2022-23. Even though the Samagra Shiksha Abhiyan (SSA) saw an increase of 6000 crores in the budgetary allocation in 2022-23, it was still less than the allocation in 2020-21. It is expected that this year teacher training and SSA will get more budget for NEP 2020.
digitalization
Digital university can help in increasing enrollment at tertiary level of education. By providing education in multiple Indian languages and ICT formats, the Digital University will immensely benefit the student community. It is expected that the government will implement the idea of digital university envisaged in its last year’s budget (2022-23). This will provide world-class education with personalized learning experience to students across the country, with an aim to digitize schools at the lowest cost.
read this also- Union Budget 2023: Insurance sector will get relief in the budget, government can cut GST on insurance
