New Delhi: Finance Minister Nirmala Sitharaman will be delivering her eighth budget speech on February 1 at 11 am. This year, Nirmala Sitharaman is likely to focus on employment, MSMEs and skill development for the next five years because Modi 3.0 has identified ’employment and skill development’ as the second priority.
As the country is eagerly awaiting for the Union Budget 2025, industry experts from the education sector besides academics have started to outline their expectations. They also recommend to increase allocations to the education sector.
Hari Krishnan Nair, Co Founder, Great Learning: As we approach Budget 2025, we are optimistic that the government will introduce policies to position India as a global hub for talent and innovation, beginning with making quality education truly accessible. The current 18% GST levied on edtech companies imposes a significant burden on learners. Eliminating or reducing this GST rate would offer much-needed relief. Additionally, to make upskilling mainstream behaviour among youth, investing in upskilling programs should become a way for professionals to save tax under Section 80C. We hope this year’s budget not only prioritises creating more employment opportunities but ensuring equity and access to more learning opportunities.”
Vishal Anand, Founder & Pro Chancellor, Shoolini University: In the upcoming Union Budget, priority can be given to research and intellectual property in the higher education sector. These two categories should be included as part of Corporate CSR fund deployment to accelerate India’s research journey. Education and research capital expenditure could be classified under priority lending, with a focus on 25-year long-term financing for universities as national assets and subsidized lending rates. These initiatives could accelerate private investment in the sector. Allowing education to operate under a for-profit model can enhance capital infusion into the sector and make it globally competitive. Additionally, collateral-free education loans for students could enable higher enrollment numbers in a young nation like ours, which currently struggles with sub-30% levels.
Praveen K Pula, President & Chancellor, Woxsen University– President & Chancellor, Woxsen University: As we approach Budget 2025, the education sector eagerly anticipates a renewed emphasis on higher education after the government’s commendable steps last year. The need of the hour is greater fiscal allocation towards innovation-driven research, skill-based learning, and global partnerships to enhance the competitiveness of Indian universities on a global scale. While primary and secondary education have rightfully received significant focus in the past, it’s imperative now to strengthen higher education to meet the demands of a rapidly evolving global economy. We hope the government will prioritize policies that foster industry-academia collaboration, promote technological adoption, and ensure equitable access to quality higher education for students across all strata.
Prof Swapnil Sahoo, Assistant Professor-Strategy and Entrepreneurship, Great Lakes Institute of Management, Gurgaon: As India approaches its upcoming budget, there is a critical opportunity to drive job creation and provide relief to the middle class by fostering a supportive environment for startups and entrepreneurship. The Startup India initiative has already recognized over 1.17 lakh startups, creating more than 15.53 lakh direct jobs by December 2023, and this momentum can be amplified by streamlining regulations, enhancing tax incentives, and improving access to finance. Addressing skill gaps in emerging sectors such as AI, IoT, and green technology through initiatives like the Pradhan Mantri Kaushal Vikas Yojana, which trained over 1.10 crore candidates between 2016 and 2020, is essential to equip the workforce for evolving demands. At the same time, inflation at around 5.5% annually necessitates revisiting tax policies to offer greater deductions on essentials or direct support for startup employees to alleviate middle-class pressures. A comprehensive strategy integrating policy reforms, financial incentives, and skill development will not only strengthen India’s entrepreneurial ecosystem but also address economic challenges faced by the middle class, fostering sustainable growth and inclusive prosperity.
Dr Suresh Ramanathan, Dean, Great Lakes Institute of Management, Chennai: The upcoming Union Budget 2025 presents a significant opportunity for the government to advance its dual objectives of enhancing disposable income and stimulating economic consumption. Measures such as revising personal income tax slabs or increasing exemption limits could provide essential relief to middle-income households, which form the cornerstone of India’s economic framework. Simultaneously, introducing targeted tax incentives for investments in transformative sectors like green energy, skilling initiatives, and AI-driven startups would not only encourage individual engagement in these high-potential areas but also align with the nation’s broader strategic priorities for sustainable growth. While the perennial call for tax simplification persists, this budget must also address the imperative of equitable tax distribution. By implementing policies that enhance compliance through greater transparency and streamlined filing processes, policymakers can expand the tax base while fostering trust among taxpayers.
Mr Abhay G Chebbi, Pro-Chancellor, Alliance University: Introduction of incentives for existing universities and educational institutions to create Distinguished Skill Universities in very important. These institutions will address the critical skill gap by equipping the next generation with industry-relevant expertise, thereby driving employment opportunities and enhancing India’s competitiveness in the international arena. A visionary budget that prioritizes these initiatives will serve as a cornerstone for India’s emergence as an economic and educational superpower in the 21st century.
