Union Finance Minister Nirmala Sitharaman is scheduled to present the budget for the financial year 2024-25 on February 1. From increasing funding for AI-based technologies and prioritizing funding for school infrastructure, to reducing GST on educational products and services and the need to expand GST, to establishing existing and new space agencies. Additionally, the education sector has high expectations for the upcoming Budget 2024-25.
Gautam Rajgarhia, vice chairman of Delhi Public Schools, pointed out that rural schools lack adequate infrastructure. There is a lack of essential facilities such as clean toilets, libraries, science laboratories, digital facilities, and sports equipment. Rajgahia added that the budget must prioritize funding for these amenities to ensure a safe and conducive learning environment for all children.
Prateek Maheshwari, co-founder of Physics Wallah (PW), to improve accessibility and facilitate seamless implementation of learning solutions for children in the country's remote areas who seek access to high-quality online content. comments on strengthening digital infrastructure.
“According to the recent Annual Status of Education Report (ASER), more than half of 14- to 18-year-olds in rural India are still struggling to solve basic divides and are struggling with digital tools and skills. There is a lack of access to. We need a robust digital infrastructure to bridge this gap.”
He further said there is a need to reduce GST on educational products and services to ease the financial burden on parents and promote affordability. Maheshwari highlighted the need for public-private collaboration to drive large-scale change in this sector.
Budget 2024: Focus on space, AI
International Institute of Information Technology (IIIIT) Hyderabad said AI-based technologies have been a major driver in recent months and this trend will continue to accelerate, with significant investments, progressive policy frameworks and research He added that an increase in development costs is necessary. India aims to catch up with the world in these areas. The role of governments is critical in fostering an ecosystem that fosters AI innovation and brings together academia, industry, NGOs, and government departments. As we envision an AI-powered future, India's investments must not only be financial, but also strategic, fostering collaborative synergies for a thriving ecosystem.
Vineet Nayar, former CEO of HCL Technologies and founder and chairman of Sampark Foundation, said strategic funding must support AI-driven education models, digital infrastructure and AI literacy. He added that these efforts need to extend beyond the traditional classroom and ensure equitable access across socio-economic classes.
“Investing in AI research, especially for educational applications, is essential. Collaborating between educational institutions and industry can accelerate AI solutions that address educational needs. Training teachers on AI, developing AI-enabled learning tools , democratizing access to technology is essential for an AI-ready generation,'' Nayyar said, adding that the Union Budget 2024 will not only increase allocation but also provide resources for incorporating AI in education. He added that it should be directed strategically. This step will realize the vision of the NEP and prepare India for an AI-driven future, balancing technological advances with social sector responsibilities.
Start-up funds
Professor Thillai Rajan A of IIT Madras expects a number of incentives in Budget 2024 that will bring wind back to the sails of the startup ecosystem.
The IIT Madras professor reiterated that there are few comparable initiatives in independent India that have revitalized many ministries of the Indian government. “More than Rs 20 million is invested in startups in the country. However, since the peak in 2021, the number of startups created has gradually declined. As someone who is keen to see the contribution of startups, , I look forward to a number of incentives in this budget that will put wind back in the sails of the startup ecosystem.”
