New Delhi, 01 February 2019: Finance Minister Piyush Goyal today presented the Interim Budget 2019-20, in which he announced a host measures for youths, farmers, middle class persons, small trades. Education, skills, jobs and career themes are covered and got priority in the Budget.
National Education Mission allocation increased by about 20% to Rs. 38,572 crore in Budget Estimate. To ensure 10% reservation in educational institutions and Government jobs for economically weaker sections, the Government will provide for 25% extra seats i.e. around 2 lacs, while maintaining the existing reservation for SC/ST/Other Backward Classes.
The Budget proposed that in order to take the benefits of Artificial Intelligence and related technologies to the people, a National Programme on ‘Artificial Intelligence’ has been envisaged by our Government. This would be catalysed by the establishment of the National Centre on Artificial Intelligence as a hub along with Centres of Excellence. Nine priority areas have been identified. A National Artificial Intelligence portal will also be developed soon.
Mr. Prashant Gupta, Executive Director, Sharda University said “Reflecting our Government’s great commitment to harness the potential of our students/youth and empower their future, the investment of Rs 38, 572 Cr under the National Education Mission, is indeed a welcome move. The initiative of deduction in the interest on education loans will make education accessible to all. Additionally, the government’s push towards new-age technologies like Artificial Intelligence will impart necessary skills and knowledge to the younger generation and will help in preparing the workforce of future.”
Dr. Sanjay Gupta, Vice-Chancellor, World University of Design,“Overall, the Interim Budget is focused on people, progress & prosperity and that will lead to the rise of a #NewIndia by 2022. Being an election focused budget, there was no big announcement for the education sector which requires a long term focus. The reduction in the interest on education loans is a good move towards ensuring education for all. At the same time, the allocation for Higher Education Financing Agency (HEFA) has been reduced from Rs 2,750 crore last year to Rs 2,100 crore this year. More focused announcements around skilling and higher education for youth would have made the Budget more holistic.”
Mr. Vikas Singh, Managing Director, Pearson India commented “The Government has presented a pro-citizen budget with emphasis on the taxation, rural economy, education, agriculture and infrastructure. We welcome the increased budgetary allocation towards National Education Mission. The government’s focus on digitisation of villages is a step in the right direction and will propel digital education in rural India. The residual income from the increased tax benefit will also help in allocation of spends towards child education. We welcome the efforts of Finance Minister in spearheading development and the allocation of resources towards education, skilling and job creation.“
More or less, experts, education leaders, academicians and edu-tech leaders give big thumps up to the Union Budget 2019-20.