Budget 2024: From investments in skill development to infrastructure, what education sector expects ahead of elections
₹1.12 lakh crore against FY 2022-23 budget allocation of ₹1.04 crore. FY 2023-24 budget included ₹68,804 crore allocation for school education, ₹44,094.62 crore allocation for higher education and ₹37,453 crore allocation for the Samagra Shiksha Abhiyan (SSA). Here are some suggestions from experts, from investments in skill development to infrastructure ahead of elections.
Economics Professor and Chairperson at Birla Institute of Management Technology (BIMTECH), Dr. Pooja Misra said, “Manufacturing-led growth is imperative to build a $ 5 trillion economy. With the Government working towards bringing down logistics costs and heavily investing in building key infrastructure, be it transportation network, railways etc.
and thereby hoping to capitalise on the crowding-in effect (with private industry capex increasing)." In order to address the challenges facing the education sector such as skill mismatch, Pooja Misra suggested that government should continue to focus on skill development and education of the youth in this interim budget. This could be achieved through increased vocational training institutes, building of technical and IT skills, analytical skills and more. This investment would lead to increased employment, higher productivity, lower disparity in income levels and facilitate economic growth.
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