Budget 2024: Prioritize youth skill development!
After two days, Finance minister Nirmala Sitharaman will deliver the maiden budget of the Modi government's third term. people are focused on this budget because they think the Modi administration will present a development strategy for the nation by 2047. The most significant contribution to India's development will come from the education sector. The education industry is excitedly awaiting this budget because of this.
Call for tripling funding for the field of education
Because to the lok sabha elections, the interim budget was announced in february of this year. Following the new government's establishment last month, the entire fiscal year 2024–25 budget will be unveiled the following week. The education industry is expecting a lot from this entire budget. people who work in the education sector, for instance, urge the government to spend more money on this issue. The current budgetary allotment of roughly 3 percent for the education sector ought to be raised to at least 6 percent. In addition, the government ought to prioritize youth skill development, equitable opportunity for all, and higher education.
The government ought to prioritize conventional small businesses.
Regarding the next budget, Mahadev Jaiswal, director of IIM Sambalpur, states that the government should base its priorities on the evolving demands of business. In the interim budget, the government raised funding for higher education to Rs 47,619.77 crore. It demonstrates the government's desire to fortify the infrastructure supporting academia. In order to understand the difficulties facing our educational system—particularly in places like Odisha—we must pay close attention to the most current UDISE+ and National Achievement survey data included in the budget. In the budget, the government should also give attention to traditional microindustries like handlooming, handicrafting, and tech agriculture.
The country's economy will be strengthened by these actions.
The director of the Birla Institute of Management technology (BIMTECH) in Greater Noida, Prabina Rajib, is an advocate for emphasizing skill development for women and young people. She states: Approximately Rs 44 thousand crore, or 8% more than in the previous Union Budget of 2022, was set aside for the higher education sector. In the Interim Budget 2024, the administration gave youth training programs top priority and placed a strong emphasis on empowering women. By 2040, the NEP hopes to have, within the same general framework, plans in place for postsecondary education across all subject areas at all institutions. With this entire budget, the government ought to concentrate on modern educational trends and use skill development—that is, reskilling and upskilling—to fulfill business demands. These actions will boost the nation's economy in addition to strengthening the education sector.
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S Venkateshwari

20/07/2024 09:58 PM