Finance Minister Nirmala Sitharaman presented the country with the budget for the financial year 2024-25 today, February 1. Announcing the budget, the minister said, "With a vision to empower the youth of the country and a mission to educate India, 3,000 new ITIs (Industrial Training Institutes), 7 IITs (Indian Institutes of Technology), 16 IITs (Indian Institutes of Information Technology), 7 IIMs (Indian Institutes of Management), and 15 AIIMS (All India Institutes of Medical Sciences) and 390 universities have been set up all over the country."
Speaking about female enrollment in higher education, she said, "In STEM (Science, Technology, Engineering, and Mathematics) courses, girls and women constitute 43% of the enrollment, one of the highest in the world." Additionally, she assured an increase in the number of medical colleges in the country. "The Skill India mission has trained 1.4 crore youth. Upskilled and reskilled 54 lakh youth," she stressed.
Following the presentation of the union budget, experts have issued their opinions through official statements.
Reactions pour in
CEO of staffing at TeamLease Services, Kartik Narayan said, "The Skill India Mission's initiative is a vital step towards bolstering the Production Linked Incentive (PLI) scheme and Make In India programme. This comprehensive approach is essential in enhancing the manufacturing sector's contribution to the GDP (Gross Domestic Product) from 17% to 25% by 2047, thereby creating numerous job opportunities"
Founder and CEO of Unstop Ankit Aggarwal said, "The 2024 Budget outlines significant strides in the government's efforts to enhance the skills of today's youth. The Skill India Mission, a key initiative, has successfully trained 1.4 crore individuals and re-skilled 54 lakh youth, while also establishing 3,000 new ITIs. The expansion of higher learning institutions creates more educational opportunities, especially for students in Tier II and III cities."
Further, about the increase in women's enrollment in STEM, he said, "This rise is not only a positive trend in itself but also translates into increased opportunities for women in the private sector." Additionally, he said, "The data underscores the need for policies that draw the government's attention to platforms facilitating talent discovery and engagement, even in the most remote corners of the country. This emphasis is crucial for fostering inclusive skill development and ensuring widespread access to educational and career opportunities."
Dean & HoS (Head of School) Amrita University, Dr Sasangan Ramanathan, said, “The announcements in the interim budget are welcome. The decision to create a corpus fund to provide long-term loans for research and development would be a game-changer for the research and education ecosystem in India."
Further Ramanathan added, "The government's focus on new-age technologies and data is going to give a big boost to higher educational institutions. The increased female enrollment in higher education to 43% in STEM courses is welcome news. We are hopeful of some path-breaking announcements in the full budget in July for higher education institutions.”
Founder of Suraasa, a teacher education platform, Rishabh Khanna said, "The recent budget's emphasis on youth empowerment and skill development is a testimony of the Indian government's commitment to advancing the nation's educational landscape. The strategic initiatives aimed at addressing teacher shortages and implementing transformative reforms under the National Education Policy (NEP) 2020 are commendable."
Further Khanna added, "The anticipated support for technology-enabled education, particularly in Tier III+ towns, and the emphasis on digital infrastructure, teacher training, and vernacular education, are expected to significantly enhance the learning experience of our students."
Director of Symbiosis Law School, Pune, Dr Shashikala Gurpur said that the Skill India mission is a testament to the potential of youth. "The emphasis on women, youth, farmers, and the poor is very relevant to community outreach, skilling, and technology-driven reach of education. Our curriculums must address the policy and law gaps in renewable energy and electric vehicles," Gurpur said.
"The role of education in ensuring these outcomes is significant. Last year, the Education Ministry’s budget allocation increased by a marginal 8% from Rs 1.12 lakh crore. The fact that there has been no change in income tax has implications for teachers and householders. Lastly, the incorporation and recognition of caregivers are important. We look forward to seeing more initiatives in the upcoming budgets that address these critical areas,” Gurpur added.
