The education section has witnessed a drastic transformation since the outbreak of Covid-19 pandemic in 2020. Mushrooming of ed-tech start-ups, shift to online classes, new software and video conferencing technologies and learning apps were tangible changes witnessed in the education ecosystem.
The Centre had cut the education budget by 6% last year, amounting to a total allocation of Rs 93,223 crore. However, the government is expected to raise the amount by around 10% in 2022 since last year’s reduction was attributed towards healthcare.
With the focus now on e-learning, it is important that the government ensures better internet connectivity and infrastructure and makes new programmes accessible to people.
Abhay Agarwal, founder and Fund Manager, Piper Serica, a SEBI registered portfolio management service provider, says, “For India to achieve its targeted annual GDP growth rate of 7% per annum over the decade, the Union Budget needs to stop being just a statement of intent, minor tax tweaks and announcement of small populist schemes.” It therefore needs “bold initiatives” that provide long-term economic development.
In order to create a self-sustaining loop, the government needs to ensure basic education and healthcare, job opportunities, infrastructure development, consumption, formation of private capital and economic growth, Agarwal pointed out.
India has more than 250 million K-12 students of which more than half are in government schools. The government…