- By Aditya Pratap Singh
- Wed, 15 Jan 2025 04:50 PM (IST)
- Source:JND
Union Budget 2025: Union Finance Minister Nirmala Sitharaman will likely present the second full budget of the Modi 3.0 government on February 1. As the Budget day approaches, experts and executives across the sector including healthcare, fintech, finance, automobiles, banking and others are expressing their demands and suggestions.
Meanwhile, experts and business founders from the education industry have high hopes for the budget for 2025. The sector is expecting some special packages and schemes that can help the industry to thrive.
Mayank Kumar, Co-Founder of upGrad demands that the upcoming Union Budget FY26 should encourage incentivising or providing effective tax breaks - similar to those under Section 80C (like Mutual Funds or Life Insurance, to Indian organisations investing in AI training.
"India is at a prime stage when its human capital could translate the overall economic progress and global standing. With AI-powered innovation taking centre stage, corporates are finding real value in upskilling their talent - it not only helps them retain talent for the long term but also builds an AI-first workforce ready for global opportunities. Therefore, the upcoming Union Budget FY26 should encourage incentivising or providing effective tax breaks - similar to those under Section 80C (like Mutual Funds or Life Insurance, to Indian organisations investing in AI training. It will encourage adoption and cultivate a lifelong learning mindset," sad Mayank Kumar
"A stronger budget allocation is essential to upskill not only India Inc. but also government employees in emerging technologies. This initiative can drive greater women’s participation in the workforce, especially in STEM fields. To establish India as a creator's economy, robust AI infrastructure and an expanded network of AI 'Centres of Excellence', supported by public-private-global collaborations, are crucial. These efforts will accelerate innovation, inclusivity, and progress toward India’s 2047 vision." he added.
Indu Kansal, Co-Founder, of Crack Academy demands more investments in digital education, rural connectivity, and infrastructure upgrades for tier 2 and 3 cities.
"The education sector has high hopes for the upcoming budget. Increased focus on skill development, research, and innovation is crucial to address future workforce demands. We expect more investments in digital education, rural connectivity, and infrastructure upgrades for tier 2 and 3 cities. Additionally, introducing tax benefits for education expenses would ease the financial burden on students and families. These measures can ensure a more inclusive, equitable, and future-ready education system," said Indu Kansal.
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Deepakk Kummar, the Founder and Chairman of EIMR Business School expects that government would allocate dedicated funding for high-quality entrepreneurship skill development programs, enabling students to tackle real-world challenges.
"We urge the government to allocate dedicated funding for high-quality entrepreneurship skill development programs, enabling students to tackle real-world challenges. Consistent funding is crucial for student-led initiatives, complemented by tax incentives for academic-industry partnerships, incubator expansions, and research grants to fortify the education ecosystem," said Deepakk Kummar.
Koneru Satyanarayana, Chancellor, KL Deemed to be University expects major steps that can be a strong push to strengthen the National Education Policy (NEP) 2020.
"The expectations from Budget 2025 for higher education focus on major improvements. There is a strong push to strengthen the National Education Policy (NEP) 2020, with more funding for curriculum updates, faculty training, and promoting the Indian Knowledge System. Increasing partnerships between colleges and industries is a priority, helping students gain skills needed in the job market. The budget should also increase financial aid and use technology to ensure fair access to education for all, especially in rural areas. More investments in infrastructure, including more seats and better facilities, will help achieve the target of increasing the Gross Enrolment Ratio (GER). The budget is expected to focus on hiring more teachers, supporting global partnerships, and improving India’s position in international education," said Koneru Satyanarayana.
Lakshmi Mohan Pro Vice Chancellor of ITM Skills University and Director of ITM Business School, Navi Mumbai said, "As we look ahead to the upcoming budget, we are hopeful for increased support in areas that will help strengthen our education system, such as research, innovation, and skill development. By focusing on building stronger connections between industry and academics, our students will have more chances to gain practical experience and improve their job prospects. We also expect investments in better infrastructure and sustainability, helping us create a modern, eco-friendly campus."
