The Budget allocation for education, employment and skilling in 2024 was Rs 1.48 lakh crore. Of this, the highest allocation of Rs 73,498 crore was made to the Department of School Education and Literacy. From 2015-2024, India has been allocating over 4 per cent of its GDP to education sector. On the other hand, US spends 5 per cent while Canada, Japan and Germany spend 5.5 per cent, 3.6 per cent and 4.8 per cent respectively.
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Over the years there has been a gradual increase in the budget allocation for education and higher education in India, however, there is a need to increase the allocation to cater to the evolving job sector. Education sector should be given preference in the budget as providing quality education to the population will eventually help the country in creating skilled population. Skilled and educated population will further result in increase in the GDP of the country. Experts have noted that as per previous trends, all developed countries have diverted a large fund towards public education system.
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Efforts should be made to train the youth of the country for creating a strong and skilled workforce.
Anticipating the allocation for Budget 2025, Poshak Agrawal, Co-founder, Athena Education says, "The implementation of the National Education Policy (NEP) is a key focus area for the government, particularly in digital education and skill development. The budget is expected to allocate increased funding towards these initiatives, which are crucial for modernising India's educational landscape."
Mr Agrawal further mentions the areas that need increased allocation. These include:
Digital Infrastructure: Investments in technology and resources to enhance online learning experiences across educational institutions.
Teacher Training: Significant funding directed towards teacher training programs aimed at improving pedagogical skills and integrating technology into teaching practices.
Skill Development Programs: Emphasis on skill development initiatives aligned with industry needs, ensuring graduates are equipped with relevant skills for the job market.
Sumit Kumar, Chief Strategy Officer, TeamLease Degree Apprenticeship notes that to empower educators, the budget must allocate adequate resources for teacher training and capacity-building programs, focusing on professional development workshops, advanced certifications, and the integration of innovative pedagogical tools.
"The Union Budget must play a pivotal role in advancing the goals of the National Education Policy (NEP) 2020 by prioritizing digital education, skill development, teacher training, and infrastructure upgrades. Substantial investments are essential to fulfil the ambitious target of achieving a 50 per cent Gross Enrolment Ratio (GER) in higher education by 2035, compared to the current 28.3 per cent as of June 2024" he says.
