Quote on Pre-budget expectations by Dr. Narayani Ramachandran, Director & Professor Finance at NMIMS Bengaluru Campus
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Below the Quote on Pre-budget expectations by Dr. Narayani Ramachandran, Director & Professor Finance at NMIMS Bengaluru Campus
Sharing my comments: The Union Budget 2025-26 is expected to be transformative in the Indian education sector, focusing on increasing digital innovation, financial support, and global competitiveness. Trust and hope it emphasises public spending in education and enhances collaborations between industry and academia for filling funding gaps and developing a ready-for-job skills workforce.
The major areas of concentration are expected to be digital financial literacy and quality online education. Improving digital infrastructure and enforcing standardised frameworks for online learning will be crucial in addition to increasing digital literacy to facilitate the achievement of the NEP 2020's objective of 6% GDP for education. A more robust framework for career counselling and easy availability of information will be necessary for raising the Gross Enrollment Ratio in higher education.
It is expected to highlight the use of next-generation technologies like AI, IoT, and robotics to create personalised and effective learning experiences. Investments in STEM research and skill development in advanced fields are deemed necessary to prepare a workforce aligned with global standards. Public-private partnerships and subsidies are also expected by various key stakeholders to enhance access and establish India as a global education hub.
Financially, the budget is expected to address the increasing cost of education, with proposed cuts in interest rates on education loans and an expansion of financial aid, especially for international education. Streamlining collaborations with foreign universities and easing regulatory processes for Indian campuses are expected to create more global opportunities for students. These measures collectively aim to democratise education and empower India's youth for a competitive global landscape.
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