Post Budget 2021 Reaction Quotes - Education & Startup Sector

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The Union Budget 2021 is out. The budget is focused on National Education Policy to improve Education Sector.
 
 
Quotes from Education industry experts:-
 

post budget 2021“The first digital budget presented by the Union Finance Minister Ms. Nirmala Sitharaman is a practically fulfilling budget as it has duly focused on the key areas – health and education and provided robust infrastructure in these sectors. When it comes to education, the budget has announced every needed move to make education reach the last miles of the country be it setting up a higher education institute in Leh or the establishment of many tribal schools in the far-flung areas. The New Education Policy was noted in the Budget as having been well received. This is a direct result of the massive consultation process done with respect and inclusion. This is an exceptional policy win. The announcement of introducing the legislation this year to implement the setting-up of Higher Education Commission of India will uplift and make the education process in accord with the industry standards, thereby reducing the rampant unemployment rates,” said Dr. R.L. Raina, Vice-Chancellor, JK Lakshmipat University, Jaipur.

 
 
post budget 2021“We would like to congratulate Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for giving special focus on skilling as this is the stepping stone for becoming Aatmanirbhar. With over eight million graduates across streams entering the job market this financial year, the announcement of amending the Apprenticeship Act is a huge move. The collaboration with the United Arab Emirates for skill qualification and accreditation will make our youth more skilled as per the international skilling standards. Even the collaboration with Japan for transferring Japanese vocational models will surely bridge the prevalent skilling gap in our country. The budget allocation for the education sector will surely increase the competence and lucidity,” said Mr.Ankit Shyamsukha, CEO, ICA Edu Skills.
 

 

post budget 2021"The Hon'ble Finance Minister's 6 pillars for Budget 2021 include "Inclusive Development for Aspirational India" and  "Reinvigorating Human Capital". This is a welcome development. Development of our human capital, particularly the youth, is a key area that has been tremendously underserved over the years in our country. The need of the hour is to skill, upskill and reskill not just professionals in the metros but the vast population in the hinterlands.The announcement of a Central University in Leh is a right step in this direction. I wish many more come up in the remote areas of the country. Many students drop out after 10th and 12th - a huge waste of human capital. The newly announced Higher Education Commission can deploy resources and funds into hybridizing vocational and professional skills training for this youth with a mixture of e-learning and skills building in vocational centres. The initiative to strengthen our human capital and train our youth by providing INR 3000 crores towards the National Apprenticeship Scheme is a hugely welcome step. India has the capacity to leapfrog the so-called ‘developed’ countries over the next decade. As we march towards a 5 trillion dollar economy, we must make the development inclusive for all by making education and skilling a national priority", said Mr. Rohan Krishna, CEO, Co-Founder, Elite.

 

post budget 2021"The government’s decision to strengthen school education with the implementation of the National Education Policy across 15,000 schools despite the hurdles owing to the COVID-19 pandemic shows clear intent. However, the rollout and implementation across all states should be done within a couple of years to bring parity for students to access education across the country. The participation of the private sector and NGOs in managing and operating schools will be an enabler in providing a modern and high-quality framework for education and boost the sector to engage with many more projects under the public-private partnership model", said Mr. Rustom Kerawalla, Chairman, Ampersand Group.

 

post budget 2021"We welcome the Finance Minister’s announcement to revamp the higher education sector in line with the NEP2020. Among other critical developments, the Nation First policy, outlined in the budget, is based on strengthening education for all with an emphasis on primary and higher education. The budget focuses on the need to foster international collaborations in research and development as a critical tool for skill enhancement. The announcement of higher education cluster in nine cities will bring synergy and further strengthen the education sector. It will allow enhanced cooperation between good private and public institutions, encouraging knowledge-sharing and coherence. We are looking forward to the Higher Education Commission which will be tasked with taking forward the vision of NEP2020. The Budget 2021 also addressed the key issues facing the economy today. The six pillars, as envisioned by the FM, will be critical in reviving the post-pandemic economy. The decision to double MSME allocation will provide much-needed relief to the micro, small, and medium-scale entrepreneurs who were hit hard during the lockdown. Incentivising one-person companies, coupled with easier debt resolution will further help in boosting this critical employment-generating sector. The slew of measures in finance, insurance, and banking continue the government’s commitment to reforms while providing critical space for capital inflow in the economy. Overall, the budget shows the government’s commitment towards developing a robust education ecosystem that is in harmony with sustainable development and a self-reliant India", said Hersh Shah, CEO, India Affiliate of Institute of Risk Management.
 
 
post budget 2021"The budget had some welcome initiatives, like collaboration with UAE & Japan, adding more rural schools, and strengthening the national apprenticeship programme. However, I believe that a lot more could have been done to build India's education sector as per the goals set out by National Education Policy (NEP 2020). Increased allocation of funds up to 6% of GDP (as recommended by expert committees), opening the sector to private for-profit investors and allowing foreign universities to setup campuses in India, were great opportunities which were missed in this budget", said Dr. Akhil Shahani, Managing Director, Thadomal Shahani Centre for Management, Shahani Group and Ask.Careers.
 
 
 
post budget 2021“The allocation of Rs 5000 crore towards R & D is one of the highlights of this budget and can be committed to strengthening edtech platforms and building a strong digital infrastructure for education. FM’s plan to qualitatively strengthen 15000 schools under NEP can lead as an example of a blended learning approach where digital education complements traditional brick and mortar schooling. This  transformation will, however, require the involvement of school heads and teachers in adopting the “Phygital” model of education to align with the MoE’s vision. While R & D and skilling initiatives are explicitly mentioned in the FM’s speech, training on leveraging technology in education has not been spelled out and this will be critical to actualise the impact of digitization of education”, said Divya Lal, Founder and Managing Director, Fliplearn.
 
 
post budget 2021"The market is reacting and how! All the major stocks are up and that says a lot about the public sentiment with this budget. Specifically on education and start-ups, there isn’t much excitement in place as far as the budget is concerned. Some baby steps towards implementing the NEP which is good - but remember that execution is the key there. The increment in the budget isn’t significant, we should have landed at around 6-7% of GDP to create some impact. Education should be seen as infrastructure - you are essentially building the Human Resources for the country. There isn’t much around re-skilling or up-skilling of teachers in the budget - which is the need of the hour. I think the 15K school to start with for the NEP experiment is way too low given the base we have. Should have definitely targeted higher. Tax holidays are welcome - having said that, I don't think that a lot of start-ups are actually generating profit. It’s a case of tangential benefit. A direct impact would have been through GST concessions to the DIPP registered startups at least, in my opinion", said Mr.Rohit Jain, Co-founder DUX Education.
 
 
 
post budget 2021"It is a welcome move to train engineers, but we are forgetting that arts, science, and commerce background students forms the majority of higher education bucket (close to 70% of entire intake). Most programs are unable to cater to these majority population, skilling should be inclusive and not just be focused on engineers. New age digital skills can also be learned by arts, science, and commerce background students. The learning curve is slightly steep, but it is very much possible and we have seen people picking it up. I would like to see for inclusive points in apprenticeship training that can cover a broader spectrum of people and not just niches. Probably it is because the narrative is owned by engineer employability, but I request to government to make this inclusive for all types of higher education students", said Mr. Sumesh Nair, Co-founder & CEO, Board Infinity - a career exploration platform.
 
 
 
post budget 2021 “The education sector has found a prominent place in this year’s Union Budget, given the large scale impact the pandemic has had on it. With an aim to move India towards an Atmanirbhar Bharat, this year the focus is on rolling out the NEP and its elements across schools. The Digital First Mindset will take blended learning further so that students can continue their learning paths. Teacher training and a toy based learning pedagogy will help strengthen the sector and take us ahead on the learning curve”, said Mr. Prajodh Rajan, Co-Founder & Group CEO, EuroKids International.
 
 
 

post budget 2021“Budget 2021 is growth-oriented and presents a lot for the industry to look forward to as the country recovers from the pandemic. At 600 million, the youth comprise more than half of our population, and the budget has included announcements to improve their lives and education, as well as the future of the nation.  The announcement to strengthen 15,000 schools as part of the National Education Policy (NEP) 2020 will be a major fillip to the quality of school education. The proposal to start an apprenticeship and embedded degree and diploma courses for students in non-science and technology streams in 150 higher education institutes by March 2021 will increase the available opportunities to students for upskilling and employment. It's also likely to open up more opportunities for edtech companies to collaborate with the government education sector. It can be expected that the edtech companies that form a part of the MSME sector will benefit from the allocation of Rs 15700 crore that has been provided for improving the sector and industry. The move will generate a lot of employment opportunities as well ”, said Ganesh Raju, Founder & CEO Ken42.

 

post budget 2021"In the Budget announcement, Emphasis has been put on holistic development, teacher training and achieving the target of NEP-2020. With 15000 schools to be strengthened, we expect the policy of whiteboard and digital education in every school just like the Radhakrishnan Commission recommendation of blackboards in every schools. We could also expect mission tablet- where tablet to be provided to teachers as well as students within the context of Digital First Mindset to build Digital architecture to support the teaching and learning activities. We also appreciate the tax holiday for startups and capital gains exemptions for startups by one more year which is going to be proved beneficial for early-stage startups to fund their growth", said Mr.Kaushik Sharaf- CEO & Founder Cymatic.

 

post budget 2021"The union budget 2021 is definitely a progressive one that revives the economy especially in the context of the pandemic and creates positive sentiment. This was probably the most awaited Union Budget for the education sector in the past decade with education of millions of children in India impacted by the world’s largest school closure in the midst of the COVID-19 pandemic. The government has proposed a few new measures for India's education system and laid emphasis on improving quality of education. Education plays an important role in bringing a change in society across generations and more so now in this technological age. Measures like strengthening 15,000 schools will lead to greater qualitative education for children across the country. Focus on skilling in collaboration with UAE will also lead to children gaining greater employability in future. The initiative to set up a Higher Education Commission responsible for the accreditation and regular funding of the Colleges and Universities will lead to greater synergy of institutions. The setting up of 750 Ekalavya residential schools in tribal areas and focus on the welfare of SC students with a massive outlay for the next 5 years will also give a boost to the under privileged children and enable access to quality education for them. The initiative by the Government to maintain the research ecosystem by collaborating with many countries starting with Japan will enhance the scope of education in the areas of technology and knowledge. Education clearly is one of the most important investments a country can make in its people and their future. Our education system needs to be self-reliant and globally competitive. With education being the key component in shaping the future workforce, an enhanced focus on education will help schools to manage costs of online education which has become a necessity now. Going forward, the government must continue to take initiatives such as allocating bigger spending on education, push greater digitization and balancing of the urban-rural gap in education. With India set to be an international educational destination in the current decade, government must act to meet the needs of an aspiring generation which is looking to the future with great hope", said Ms. Shweta Sastri, Managing Director, Canadian International School, Bangalore.

 

post budget 2021“The Government’s decision to allocate Rs.50,000 crores over 5 years will serve as a great shot in the arm for the country’s research ecosystem. Lack of adequate funding has been a constraint for several higher education institutions and this support will enable the institutions and the faculty to produce high quality, rigorous research output.  The creation of the Higher Education Commission of India (HECI) as an umbrella structure having four separate bodies for standard-setting, accreditation, regulation, and funding under it will bring in synergies across higher education institutions. In addition, a regulatory mechanism to promote academic collaboration with foreign higher educational institutions will help pave the way for Indian higher education institutions to become truly global in the near future”, said Dr.Dishan Kamdar, Vice-Chancellor, FLAME University.

 

 

post budget 2021"The 2021 budget focus on six key areas for growth - health and well-being, physical, financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation and R&D and minimum government and maximum governance.  The FDI reforms, Initiatives for partnering/States with other countries in skilling similar to the collaboration with UAE & Japan, partnership with NGOs/Private Schools/States to setup new Sainik schools, Strengthening 15000 schools by implementing all NEP components and Strengthening the Sankalp of Education for All, Opportunities for Youth are welcoming reforms & Initiatives. In my opinion, the budget has focussed on India’s growth to accelerate the growth rate. However, lot more could have been done to build India's education sector as per the goals set out by National Education Policy (NEP 2020)", said Mr. Sunil Sharma, CEO at EasyShiksha.

 

 

post budget 2021

"The Budget 2021 initiated a significant step with the announcement of 15,000 schools to be strengthened as per the National Education Policy (NEP) 2020. This holds greater relevance considering the overall impact Covid-19 has caused on the education sector. The education sector awaits a revival and Budget 2021 to an extent managed to address a few of the concerns.  For example, the move to raise the allocation for ‘Eklavya’ Schools to Rs Rs 38 crore and Rs 40 crore for hilly areas is one such step. Continuously trained teachers and sound curriculum which will give quality education to the children and better implementation of NEP 2020. The role of public-private partnership will go a long way to achieve the goal of Budget 2021 and will help in digital curriculum and fast implementation of teacher training and their experience and expertise can be a great help in day to day running of these large number of schools", said Reeta Sonawat, Member of Advisory Council, Association of Indian Schools.

 

post budget 2021"The state of education is often a healthy predictor of the country's overall development and well-being. The Union Budget 2021 will lead to the development of the education sector and the initiatives to treat education holistically for school children is a welcome move. We are glad that the new measures by the Government would bring about positive changes in the education system. The government has focused on improving quality of education and this would go a long way in rejuvenating school education. The overall focus of the budget has been to make education robust and responsive to students’ needs in terms of quality education in rural sector, skill development, research & development, employability & international collaboration to enhance technical knowledge. Education being the key instrument of social change, progress and upward mobility in India, the government needs to ensure that education sector continues to get the attention and funding it richly deserves. The challenge right now is not just producing students who will get jobs, but students who can thrive in rapidly changing environments", said Ms. Niru Agarwal, Trustee, Greenwood High International School.

 

post budget 2021"I found the focus of the budget on effective implementation of new education policy to be reassuring. The proposal for the higher education commission as an umbrella organisation having four dedicated bodies for standard-setting, accreditation, regulation, and funding will bring focus on performance and bring clarity to institutions seeking help from the government. The creation of city-based structures to create synergies among higher education institutions located in a city which is also supported by a glue grant is an innovative step. I hope Ahmedabad will be one of the cities selected for the benefit as it has a large number of old and new educational institutions. The continuing commitment to National Research Foundation with the allocation of 50,000 crores over next five years will provide a thrust to the strengthening of the research ecosystem in India. Overall I find the budget to be forward looking that continues to build upon past work and create new and facilitating structures that will help implementation of the new education policy", said Dr. Anunaya Chaubey Provost, Anant National University.

 

post budget 2021“The proposed amendment of the Apprenticeship Act in the. Budget has the potential to reboot and revitalize our education and training systems with a view to further enhance apprenticeship opportunities for our youth. Apprenticeship could be the best model to skill India’s blue-collar workforce as it will transform the student into a fully-trained industry executive with real-time exposure to shop-floor dynamics. It will not just enhance employability and reduce joblessness, but from an employer perspective, it will lead to improved skills, productivity and professionalism”, said Sunil Dahiya, Executive Vice President, Wadhwani Opportunity at Wadhwani Foundation.

 

 

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