Interim Budget 2024: Experts' Analysis Of FM Nirmala Sitharaman's Announcements For Education Sector

Finance Minister Nirmala Sitharaman announced the establishment of new medical colleges and the upgrade of over 14,000 schools in the Interim Budget 2024.

New Delhi: Finance Minister Nirmala Sitharaman on Thursday unveiled the Interim Budget 2024, delivering a mix of relief measures for different sections of society. The education sector received a blend of positive and challenging news. The announcement of the establishment of additional medical colleges and the upgrade of over 14,000 schools under the PM Schools for Rising India initiative brought hope for the education sector. However, experts expressed disappointment over the absence of new initiatives aimed at enhancing the holistic approach to education. 

Zee News English engaged in conversations with dignitaries from different segments of the education sector to obtain a comprehensive analysis of the announcements made in the interim budget. The discussions focused on the impact of these announcements on the education sector and explored expectations for additional measures that could have been included in the budget.

Acknowledging the significance of building upon the successes of last year's initiatives, Dr. Sarvjeet Herald, Director of India STEM Foundation, emphasized that the budget has the potential to prioritize various facets of education. This includes measures aimed at reducing school dropouts and fostering industry inclusion.

"Reflecting on the strides made last year, with increases in girls' enrollment in schools and STEM programs, as well as efforts in skilling India through Skill India programs and initiatives, we recognize the importance of building upon these successes,"said Dr Herald.

"While no new initiatives were unveiled this year, there's an opportunity to shift focus towards holistic child-to-adult development. Let's prioritize measures to eliminate school dropouts, enhance career awareness, and promote industry inclusion, motivating both students and parents to embrace learning, skill-building, and excellence," he added.

Commending the government's choice to enhance more than 14,000 schools, Siddharth Chaturvedi, Executive Vice President of AISECT Group and Chancellor of SGSU, stated that this announcement ensures that the youth are effectively prepared to navigate challenges in the future.

"The government's pledge to establish additional medical colleges and upgrade 14,500 schools through the PM Schools for Rising India initiative signals robust investment in education and innovation, ensuring that India's youth are adeptly prepared to navigate future challenges," said  Chaturvedi.

Considering initiatives and policies such as PM Schools for Rising India and NEP 2020, Chaturvedi remarked that these reforms and initiatives serve as a testament to delivering quality education and fostering the development of well-rounded individuals.

"The Skill India Mission's success in upskilling and reskilling, combined with the growth of higher education institutions, illustrates India's commitment to cultivating a capable and empowered population,” he added

Commending the budget's emphasis on innovation-driven development in the education sector, Ajay Singh, Principal of The Scindia School, expressed that Budget 2024 unveils a visionary chapter for the sector. He highlighted initiatives such as skill centers and labs for 5G app development, stating that they serve as catalysts for enhancing digital literacy on a global scale within the country. 

“Budget 2024 unfolds a visionary chapter in education with the establishment of 30 skills centers and 100 labs dedicated to 5G app development. This strategic move positions India as a hub for skill development, empowering the youth with contemporary skills for a rapidly evolving job market," said Singh.

"The focus on 5G app development, especially in areas like intelligent transport systems and smart classrooms, not only ensures technological advancement but also fosters innovation and entrepreneurship. This initiative catalyzes a paradigm shift, creating a digitally literate and globally competitive workforce, aligning with the government's commitment to education and skill development," he added.

Commending the government's choice to enhance 14,500 schools through the PM Schools for Rising India initiative, Singh expressed that the effort serves as a testament to the government's commitment to translating the principles of NEP 2020 into tangible reality.

Further commending the achievements of the Skill India Mission, the establishment of new institutions, and the substantial allocation of resources in the recent budget Singh said that the announcements exemplify a dedication to shaping a progressing India, with a focus on enhancing skills, fostering employment, and promoting entrepreneurship.