Home News Updates Union Budget 2023: Focus on ‘Amrit Peedhi’—the youth, welcomed

Union Budget 2023: Focus on ‘Amrit Peedhi’—the youth, welcomed

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National Digital Library and promotion of reading along with focus on teacher training refreshing ideas; No GST relief a heartburn

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 “The Union Budget highlights the government’s focus on Care, Green, and Digital – three crucial themes that will continue to shape our economy. The good push on specialized education in nursing and medical devices, as well as the strengthening of teacher training, will help build a strong foundation for our healthcare system. The promotion of online learning through Mission Karmayogi and the IGOT platform will further drive the adoption of digital technologies, even across rural and remote regions. Another significant milestone includes the focus on setting up more AI and 5G labs and R&D centres and the need for a skilled talent pool to support this adoption, which will drive the digital transformation of our economy. It will enable ‘Make AI for India’ and ‘Make AI work for India’ a reality while also pushing the growth peddle significantly. Emphasis on the importance of Skilling and Upskilling in New-Age and Industry 4.0 Skills, will prepare Indian Talent for International Demand and position India as the Global Talent Capital of the world. We expect a wider collaboration between the government and TSPs (Technology Service Providers) in the coming times for ensuring our talent remains armed with future-ready skills and domain expertise. The budget’s proposal to provide stipend support to over INR 47 lakh youth is a major move to encourage skilling. Overall, the budget strikes a balance between caring for our citizens, protecting our environment, and harnessing the power of technology to build stronger and more progressive infrastructure for us. It is a stepping stone during the first phase of Amrit Kaal to make India a global superpower in terms of skilled manpower, technology and business growth” – Mayank Kumar, Co-Founder and Managing Director, upGrad

Introduction of direct stipend payment under new National Apprenticeship Scheme for 42 lakhs youth is a path-breaking initiative under the Financial Budget 2023-24 but this should have been for at least 1 crore youth to begin with detailed guidelines for implementation in terms of industry sector or geography.  Ideally, SMEs/MSMEs should be linked with this scheme because they generate maximum employment for unskilled youth.  Introduction of PM Kaushal Vikas Yogna 4.0 to include Coding, AI, Robotics, IOT, 3D Printing Technology and Drones is a welcome step he said.   The New Education Policy 2020 which was announced with much fanfare did not find wholehearted support from the FM in this budget except for recruitment of new 38,000 teachers he added.” – Nitin Potdar, Partner, JS

“Focus towards tourism, rural economy and a 33% increase in capex is bound to generate lacs of employment opportunities to meet youth’s aspirations and industry’s needs. And to address this demand, right skill development initiatives have been put in place. 30 international skill centers, 157 nursing colleges, the new PMKVY 4.0 which encourages industry-academia partnerships, emphasis on training of teachers, Eklavya model residential schools to cater to tribal children (which is also expected to employ 38800 people), and emphasis on new age digital skills; will make the learning ecosystem more sustainable and inclusive. The DBT of stipends to 47 lac apprentices in 3 years is a great initiative to boost intake of apprentices. However, the litmus test is in execution. We must reflect on our past performance as PMKVY and DBT has been operational some time, executive of these initiatives at the ground level would need effective and efficient systems and close monitoring to ensure the success.” ­ – Sumit Kumar, Chief Business Officer, TeamLease Degree Apprenticeship

“Announcement of digital ecosystem for skilling in Union Budget 2023-24 with ‘Skill India Digital Platform’ is a step in the right direction while linking it with employers including MSMEs, and facilitating access to entrepreneurship schemes. This will help create opportunity for demand based formal skilling”.  -Achal Khanna, CEO – SHRM India, APAC & MENA.

“We welcome the move and expect public-private cooperation to meet the goals of this initiative, accelerating India’s transition to an Industry 4.0 economy. The three AI centres of excellence to enable ‘Make AI for India’ and ‘Make AI work for India’ will benefit the development of digital infrastructure and skills in India. At a time when skilling and reskilling are critical for India’s youth, the government’s recognition of the need for skilling is an encouraging move for the Higher Education and H.EdTech sectors. However, we continue to believe that lowering the GST on professional learning programmes would have made modern learning more accessible and affordable, assisting millions of learners in becoming future-ready.” – Anish Srikrishna, CEO, TimesPro.

“The Budget specified that there will be courses provided in areas like AI, IoT, Robotics, and other soft skills, to steer the youth towards meeting the demands of today. The Edtech industry was hoping for support from the Government in the form of schemes and incentives for improving online initiatives. We hope the Government revisits GST on education, especially higher education and upskilling courses. The current GST on education services is 18%, which is for luxury items. In the current industry dynamics, such education is not luxury but essential and hence, we hope for consideration on the same.” –  Ranjita Raman, CEO, Jaro Education

“5G has been the center of focus with enterprises diving to benefit the most by using it as an instrument for development. The government’s focus on setting up 100 5G labs in engineering colleges to develop 5G-based applications will further enhance the efforts being made by the private sector. The initiative of having an open-source standard for the agriculture sector will help technology firms and startups in helping the farmers, which is still one of the largest sectors in India. The focus given to youth through various announcements shows the government’s focus on the future of the country. Apart from the 5G labs set up in the colleges, the government’s recognition towards new-age skills will help SMEs with a competent workforce. The access to courses on coding, mechatronics, IoT, robotics, drones and 3D printing will help the youth enter the workforce. Make AI in India and Make AI Work for India – this slogan boosts the tech vertical’s efforts in including artificial intelligence in every aspect of our life as it betters the living and boosts development in every vertical. The government announcing the setting up of 3 Centres of Excellence for artificial intelligence has strengthened the efforts. Experts from the industry will be helping in the research and development of AI-based applications to help the agriculture, healthcare and sustainability sectors. These announcements in the budget will definitely have a positive outcome and help India’s tech vertical to achieve bigger milestones in the coming years.” – Prashanth GJ, CEO, TechnoBind Solutions

“The emergence of no-code or low-code platform along with Artificial Learning will boost the development of low barrier pathways in digital careers for the creation of a more inclusive workforce in this digital economy.” –Sumeet Mathur, Vice President & Country Head of ServiceNow India Development Center

“The fact that the budget encourages digitization and skill development demonstrates a forward-thinking approach to teaching and learning. A skilling, upskilling, and reskilling program will also help to develop entrepreneurship among the country’s youth. Students can be a part of on-job training programs, which can prepare them for meaningful employment in their cities or rural areas. The 3 year plan to support 47 lakh youths and special focus on futuristic technology like AI shows govt is aiming for a long term sustainable skill development rather than short cited one.”  -Alex George, Chairman and Managing Director at ITLH

 

“The initiatives like ‘Unified Skill India Digital Platform’ and ‘Make AI in India’ will promote India’s startups and the entrepreneurial spirit, and encourage youth to boost their knowledge through various skilling and reskilling programmes. Bolstered by these initiatives, India has the potential to create a technology-driven and knowledge-based economy in the coming future.” said Akshay Munjal, Founder, and CEO, Hero Vired

“The push towards Industry 4.0, such as AI, coding, mechatronics, drones, 3d printing etc for upskilling talent for a more technology-driven and future-ready environment is yet another step towards making us well-poised to become a flourishing economy with India being looked upon as the digital innovation hub for the world.  The government has already made great strides towards this with the Skill India mission and with the launch of fourth phase of Pradhan Mantri Kaushal Vikas Yojana (PMKVY) it will be another boost for skilling and reducing the skills gap. Despite global slump, we continue to see demand for upskilling from both individuals and businesses. We believe the next decade will be India’s decade, depending on how we harness our people’s potential.” – Irwin Anand, Vice President & Managing Director , India and Asia-Pacific region, Udemy

“I am sure that 33% growth in capital expenditure will result in balanced development. This is a smart move since it will help the country achieve its goal of becoming a 5 trillion-dollar economy and a global powerhouse. I believe that the announcement of setting up 100 labs to effectively develop 5G services and the vision to promote Artificial Intelligence in overall industries is a strong step by the government. This will further lead to automation in the industries which will help in propelling India’s growth and promoting smart cities.” – Rajeev Sharma, Chief Strategy Officer, Mitsubishi Electric India

 “The government has taken an excellent initiative by establishing three centers of excellence in top educational institutions to nurture quality human resources in AI. A national education policy will undoubtedly facilitate job creation at large scale, and the Skill India Digital platform will allow HR service providers and employers to offer desirable jobs to skilled candidates. Also, Pradhan Mantri Kaushal Vikas Yojana 4.0 scheme is an exceptional project to expand skill training in areas like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills. While 30 new skill India International centres will not only help professionals from varied sectors but also MSMEs and start-ups who look for relevant candidates to do the work. The credit guarantee scheme will work as a cushion for growing companies to stay sustainable in difficult times. All in all, the entire economy will benefit on a large scale giving numerous scaling opportunities on various levels.” – Sayeed Anjum, Co-founder & CTO, greytHR.

The 2023 budget is breaking new ground in accelerating the education and skills development movement in India. With a focus on the large cohort of young people (Amrit Pidhi), the budget is positioning them to leverage the skill ecosystem through reskilling and upskilling, driving the momentum of the movement to its full potential.” –Karan Jain, Founder, HROne

We have less than two decades to capitalize on India’s demographic dividend, which will peak in 2041. This can only be achieved by increasing enrolments and improving outcomes, as well as providing online upskilling opportunities at scale. The government is expected to continue acting upon the liberating reforms of the National Education Policy (NEP) 2020, which treats school education as a continuum with the ultimate aim of empowering a child for life.” – Dr. Siya Seth, Founder and CMD of Skoodos 

I welcome the launch of Pradhan Mantri Kaushal Vikas Yojana 4.0 in the 2023 budget. This scheme, which will focus on equipping the youth with cutting-edge skills in fields such as AI, robotics, and 3D printing, is a welcome step towards preparing our students for the demands of the 21st-century global marketplace. The emphasis on developing soft skills and launching 30 international centers will create numerous opportunities for our students to gain valuable experience and increase their competitiveness in the international arena.” – Col. Gopal Karunakaran, CEO, Shiv Nadar School

“We are glad that the priorities in the Union Budget 2023 feature Youth Power. Provisions for teacher training, on-the-job skill training, apprenticeships, and the creation of 30 Skill India International Centres will help promote access to knowledge. The Government’s recognition of the post-pandemic learning loss is a welcome move. Emphasis on skill development with AR/VR applications will help young people prepare for the future of work and enable them with relevant soft skills. The digital and physical infrastructure, particularly for the most marginalised young people in the hinterland, will help build higher student engagement and interest, and make learning an easy process.” – Dhuwarakha Sriram, Chief of Generation Unlimited (YuWaah) and Youth Development and Partnerships at UNICEF

“Budget 2023 is an inclusive budget for Amrit Kal with a focus on industry-academia collaboration, and with a reliance on public-private partnerships. Youth Power as one of ‘Saptarishi’ in the budget and an increased outlay for education to Rs. 1.12 lakh crores will undoubtedly, support the vision.  Digitization and advanced technology in Artificial Intelligence and new age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IoT, 3D printing, drones, and soft skills will boost the dream of Prime Minister for Kaushal Vikas. Skilling Youth for international opportunities will empower Indians to be responsible and relevant global citizens. In a nutshell, Budget 2023 is a futuristic budget for the youth.” –  Dr Prashant Bhalla, President, Manav Rachna Educational Institutions

 “The FY23-24 budget has approached educational reforms in a holistic manner. It addresses multiple cohorts including teachers, rural education, higher education, as well as upskilling the youth. Initiatives such as training teachers, building research capabilities for faculty will improve the learning ecosystem. The budget also addressed the youth community as a top priority. In that light, upskilling under the Pradhan Mantri Kaushal Vikas Yojana 4.0 focused on new-age skills, will equip the youth to be future ready for both Indian as well as international job markets. Additionally, demand based skilling under the Unified Skill India Digital platform will also incentivize companies, including the MSME’s to support entrepreneurial initiatives for candidates. From a student perspective, introduction of 100 labs for building 5G technology, three centers of excellence for Artificial Intelligence, 157 nursing colleges, ICMR labs for research, programs for pharmaceutical innovation and multidisciplinary courses for medical sciences, are all going to strengthen the learning ecosystem in the country.However one aspect that the budget could have addressed is reducing taxes on educational programmes from the current 18%. Doing so would have alleviated the pressure on millions of learners and encouraged them to enroll in various skilling and upskilling programmes for improving their employability.” –Dr Pragna Rao, PRO Vice Chancellor, Manipal Academy of Higher Education Bengaluru

 “The Union Budget 2023 is a step in the right direction for the education sector in India. The focus on bridging the learning loss gap and providing access to quality books through a national digital library is commendable. The allocation of resources towards revisioning teacher training, establishing new nursing colleges, and skill development centers will play a crucial role in preparing the future workforce. The emphasis on industry partnership, research in AI and innovation, and the establishment of Centres of Excellence for AI in leading educational institutions will propel India towards becoming a leader in the field. This budget demonstrates the government’s commitment to investing in education and nurturing the growth of a skilled and competent workforce.” – Dr. Meena Chintamaneni, Pro Vice Chancellor, SVKM’s NMIMS Deemed-to-be University

“In my opinion, the budget for 2023 is focused on making wise digital investments across all sectors, not just education, and we wholeheartedly welcome this initiative. However, it would have been ideal if the government could reduce the interest rates on education loans as Indians are the largest population who studies abroad. Indians are also the highest-earning diaspora with the largest remittances in the world, and many of these people went abroad for studies. It is expected that in 2024 the number of Indian students studying abroad will go up to 1.8 million.” – Piyush Kumar, Regional Director- South Asia and Mauritius, IDP Education

The setting up of three centers of excellence for AI in top educational institutions will boost research and help in developing cutting-edge applications in agriculture, health, and sustainable cities. There is also a clear focus on promoting startups and entrepreneurship.” – Dr Sandeep Vasant, Registrar, Navrachana University

“The Union Budget 2023 has put forward the intent, which we believe will help democratise quality content for all. The emphasis of the government is to universalise quality education, and for this, there is an impetus to leverage new-age technology – AI and AR/VR, thus giving students easy access to high-quality content in phygital format, including internet, mobile phones, TV and radio. Another major initiative that must pick pace – is to inculcate and increase reading habits via physical books and learning portals. The fact, that there is a push to establish a National Digital Library for children and adolescents to facilitate access to quality books across geographies, languages, genres and levels…augurs well for solution providers like Oxford University Press (OUP) which has been supporting education initiatives in the country for over 11 decades. It is a welcome move that the states will be encouraged to set up libraries at panchayat and ward levels and provide infrastructure for accessing the National Digital Library resources.”  – Sumanta Datta, Managing Director, Oxford University Press, India

“One of the major initiatives taken by the government to promote online education was the declaration to set up digital libraries for children and adolescents, which will enhance the availability of quality books across geographies, languages and genres. The government is also promoting regional languages by encouraging various trusts like the National Book Trust and the Children’s Book Trust to provide non-curricular titles in regional languages and English to physical libraries in various states, which will further revamp the culture of reading, which was significantly hit during the pandemic. ” – Alka Kapur, Principal, Modern Public School, Shalimar 

“It is a welcome move that the government thought of the pandemic effect and loss of learning and reading during the time by introducing the National Digital Library for children in order to build a culture of reading. Promotion of non-curricular titles in regional languages will also foster reading in students. The initiative sums up a well-rounded education budget.” – Dr Maithili Tambe, CEO, The Academy School (TAS), Pune

 “We are thrilled to see the government’s commitment to empowering students through innovative and futuristic learning solutions. The establishment of a National Digital Library for children and adolescents, physical libraries at panchayat levels, and a focus on teacher training are all steps in the right direction. As a company dedicated to providing cutting-edge edtech solutions, we are particularly excited about the plan to set up Centers of Excellence in Artificial Intelligence in top educational institutions. Additionally, the allocation for providing age-appropriate reading materials to inculcate reading habits is a step towards promoting literacy and lifelong learning. With this budget, we see a promising future for education in India and look forward to supporting the government in its efforts to provide a brighter future for all students in the country” – Ritika Kumar, Founder & CEO of STEM Metaverse

 “What is also motivating is the announcement of the National Digital Library, which will encourage youth from diverse contexts to learn in a comprehensive manner. The National Education Policy, with its focus on empowering the youth with futuristic skills, will work towards the holistic development of youth for a better tomorrow. We welcome the announcements and significant increase in allocations for the school education and skill development sectors, which are aligned with Schoolnet’s goal of providing equal access to world-class education to all learners, especially those in the middle and bottom of the economic pyramid.” –  RCM Reddy, MD & CEO, Schoolnet India & Learnet Skills

“A special focus on Teacher Professional Development is a welcoming move in the Union Budget as this is the foundation stone for the success of NEP. India desperately need ‘Teacher’s of Tomorrow’ in both private and public schooling system. By preparing skilled and industry-ready teachers, India can accelerate its process of making its public school the frontiers of Modern Learning. Although the government has set up a robust professional development and audit mechanism for teachers to improve professional efficiency at every level there’s one more crucial thing to give attention to that is the appraisal mechanism of the teachers. Every quarter or a year, the superior authority prepares a CR report for teacher increments and appraisals. The evaluation and increment of these teachers should not be based only on their participation in administration tasks. Ideally, heavy weightage must be given to the classroom’s audit, the performance of the teacher, and their teaching pedagogy. This will help the system to provide a good framework for recruiting more efficient and deserving teachers.” – Naman Jain, Director (Development) Silverline Prestige School, Ghaziabad. 

“The introduction of setting up a National Digital Library in Budget 2023 under the government’s economic agenda of promoting ‘Inclusive Development’ is a great policy measure to make learning resources available in various subjects for children and adolescents on a consolidated digital platform. It will bolster the accessibility of study materials and build a strong reading culture among students. Skill-based learning has also been given a stimulus through the announcements of instituting multi-disciplinary courses for upskilling students and professionals for adept use of futuristic medical technologies. The reform initiations in Teacher Training Program are also praiseworthy with the usage of innovative pedagogy, dipstick survey and ICT implementation. The government’s emphasis towards strengthening the intellectual roots of Artificial Intelligence is a far-sighted move. The creation of three Centres of Excellence in top education institutions to conduct prudent research work and devise problem-obviating solutions will boost scientific and technological innovations in Artificial Intelligence.” – Tanvi Miglani, Spokesperson, HLM Group of Institutions

“The government has made several announcements for the education industry’s boost in today’s Union budget that would greatly benefit students and learners from various races of life. Setting up the ‘National Digital Library for Children & Adolescents’ to facilitate books and learning materials from different genres will help students cope with the learning loss they suffered during the pandemic. The government also announced that promoting the English language and regional languages in collaboration with NGOs will enhance the student’s knowledge of culture and regional concepts. Simultaneously, its measures to ensure age-appropriate reading material will help people take up studies that they left due to societal reasons. Promoting financial literacy from a younger age will also benefit students in the long run. Teachers would be now trained virtually for the ICT implementation that would help the overall development of institutes. The government is also planning to employ 38,800 teachers in Eklavya Tribal Schools to serve more than 3.5 lakh students, which is commendable.” – Anshu Mital, Principal, MRG School, Rohini

“For schools, the decision to put more resources in teacher training comes as a welcome news. It did not get as much attention as it deserved in the last budget but I am glad that the Finance Minister has moved the focus to this aspect of Education sooner than later. This is good news for not just the individual teachers and their professional development, but also for the schools and students who will benefit from the expertise of their educators. The announcement of a National Digital Library for children and adolescents is a step which will give students access to quality books across geographies, languages, genres and levels – from villages to cities.”  – Atul Temurnikar, Chairman and Co-Founder, Global Schools Foundation

 “This year’s budget primarily focuses on capacity-building, teacher training, and skilling the youth. It also focuses on boosting medical education and aims to encourage and promote AI while ensuring equal education for all through various government schemes. Realizing the importance of multidisciplinary courses as a futuristic approach and the special impetus given to teacher training through pedagogical interventions and continuous professional development opportunities will further strengthen the mode of teaching and education sector in India. Teachers are nation-builders and change-makers, so their empowerment will have a multiplier effect on future generations. It’s a great budget and we are looking forward to seeing India shine.” – Madhur Gupta, Principal CBSE, Genesis Global School

The Union Budget of 2023 echoes the attributes of an emergent circular economy that will benefit the nation, giving citizens the impetus of putting India on global charts. The budget spurs a pro-growth movement encouraging widespread digitization and skilling in every walk of life.  The government has thoughtfully galvanized the importance of financial literacy. They have allocated a budget to formal academic institutions to educate the youth on the fundamentals of finance.  –Girish Singhania, CEO, EduBridge 

“The budget for this year is very encouraging, with a focus on inclusive development, green growth, and youth power. The increase in allocation for school education from Rs 63,449 crore (Budget Estimate) in 2022-23 to Rs 68,804 crore in 2023-24 is a welcome step for the education sector. The availability of the National Digital Library to children will greatly benefit the children. A strong focus on youth skill development will assist industries to attract young talent. Another significant development is the establishment of 30 Skill India International Centres across various states to prepare youth for international opportunities.” – Dr. Payal Kanodia, Trustee, M3M Foundation

“This year’s budget comes up with various new initiatives that enhance the growth of the education sector, especially setting up the artificial intelligence labs in the institution and opening 100 labs on the 5G services across the country which is a primary necessity. The budget as a whole is a positive step towards the growth and advancement of vocational education within the education sector.” – Rekha Kejriwal, Academic Director of Academy of Fashion & Art (AFA) 

“While initiatives such as a National Digital Library and support for Eklavya Model Residential Schools are steps in the right direction to address the massive learning loss from the pandemic, well-designed PPPs are the need of the hour to create innovation at scale for millions of school going students in India. This will make high-quality learning more accessible and affordable, especially for students in small towns who lack resources; and will result in long-lasting impact at scale.  GST rebates on printing of books, assessment material and educational hardware can further enable affordability and access to high-quality, multimodal education in schools.  Going forward, I look forward to policy support in this direction. – Sumeet Mehta, Cofounder & CEO of LEAD

Education is of utmost importance at every level and it is a welcome move to see the government implement Eklavya Modern Schools in the next three years which will bolster the education of tribal India. Having said that, the GST on education is still a vital concern that was not discussed by the Finance Minister. One of the primary focuses of early education should also be on skill-based learning which should be adopted by primary schools. In the past few years, the need for skill-based jobs has increased in India hence the move by the government to implement Pradhan Mantri Kaushal Vikas Yojana 4.0 in the next three years is also a great move to bridge the gap.” – AK Srikanth, CEO at KLAY Preschools

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