Budget 2023-24 Expectation: Provide tax exemptions, lower GST, offer student subsidies for growth of education sector

India holds a significant position in the global education industry, with one of the largest networks of higher education institutions and the largest population aged between five to 24 years. With 580 million people, India has the largest population in this age range and offers a significant opportunity in the education sector. The last few years have seen considerable improvement in the quality of education in India thanks in large part to edtech. The end of the COVID-19 epidemic has also sparked the country’s Edtech industry, which was expanding slowly but is anticipated to experience an exponential increase of $30 billion by 2031. The COVID-19 pandemic’s long-lasting effects on the educational system included the long-term impossibility of using physical classrooms. As a result, a significant gap needed to be filled, and EdTech platforms leaped to meet the demand from the education industry. However, there are concerns that EdTech may intensify already-existing educational disparities, and it is important to implement and evaluate new technologies carefully to make sure they are being used successfully. Major concerns that need to be addressed Limited access to technology The quality of education is directly impacted by the learning process. The Indian educational system has fewer learning resources available, and some students do not have access to technology or the internet, creating a digital divide. Empowering such students with updated devices and access to the internet can be a major point to cover in the Budget. Lack of effective teacher’s training programs Teachers have a more significant part in mentoring and advising students. The ability of students to develop skills is closely correlated to the level of teacher assistance and training provided for technology integration in the classroom. The lack of effective teacher training programs leads to skill gaps in both teachers and students. Need for govt aid to develop tech-integrated classrooms The Budget can address the concern about the lack of funding to develop technologically integrated classrooms. The infrastructure of many institutes falls short of what is needed to offer full-fledged courses and needs more resources to enable creative labs, which contributes to the lack of resources even more. A secure niche for smart learning needs to be one of the priorities in building a smart education system, as technological advancements also lead to cyber security threats. A more robust mechanism must be considered to safeguard students’ privacy and security. More importantly, the interaction between students and teachers must be a top priority and should not be jeopardised by the integration of technology into classrooms. Democracy in education Following COVID-19, EdTech players have been instrumental in democratizing education. But much more work needs to be done. Students and professionals are choosing online courses in record numbers, particularly in Tier II and III locations. Building a reliable digital infrastructure for such cities presents a problem. Students at Tier II and III universities should also be familiar with industry-specific curricula and kept up to date with the most recent tech industry requirements. But such a significant restructuring will not take place overnight. This can only be put into practice with the cooperation of the government and with a deliberate effort. NEP and tech accessibility The Ministry of Education is directing the New Education Policy (NEP) to promote multimodal learning so that all students, regardless of their location or background, have access to high-quality resources. The NEP encourages the use of technology in teaching and learning. This can be made possible by expanding the amount of digital infrastructure in educational institutions like schools. The use of digital resources and tools in smart classrooms is essential for improving student learning. Bridging the gap India’s education and training industry has recently seen significant investments and advances. According to information provided by the Department for Promotion of Industry and Internal Trade, equity inflows from April 2000 to June 2022 totaled $7.92 billion (DPIIT). Also, The Indian EdTech market is anticipated to grow from $700 to 800 million in 2021 to $30 billion by 2031. The Union Budget of 2022-23 also emphasised improving the education sector, where a total allocation of Rs 1,04,278 crore was made to boost up the resources within the education sector. Further, the government has allowed 100 percent FDI under an automatic route in the Indian education sector. The New Education Policy 2020’s execution also aligns with the goal of closing the gaps in the education sector by emphasising the value of utilising technology advantages. The policy mentions several initiatives, including pilot studies for online education, content creation, digital repository, and dissemination, setting up digital labs, offering training incentives for teachers, and the need for standards on content, technology, and pedagogy for online/digital teaching and learning. Way forward To support teaching and learning and improve student learning outcomes, the use of the latest educational technology, or EdTech, in educational settings has drastically increased globally. India’s Edtech players are expecting the upcoming Budget to address several issues to uplift the education sector by providing tax exemptions, lower GST, student subsidies, better digital infrastructure, and more budget allocations. The author is the CEO of Next Education- a SaaS-based end-to-end education solutions provider. He tweets @ralhan @NextEducationIn. Views expressed are personal. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook , Twitter and Instagram .