Union Budget 2024: Education Sector's Expectations

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Finance Minister Nirmala Sitharaman will table the Union Budget 2024 on July 23

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Increasing Education Budget: Stakeholders are hopeful that the Finance Ministry will raise the budget allocation beyond the current 13% to fund more initiatives in the education sector

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Investment in digital infra and Upskilling: Expectations include boosting digital infrastructure to facilitate skill development programs

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Support for Edtech: Edtech companies expect financial aid and tax relief, along with a reduction in GST on their services from the existing 18% to make online education more affordable

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Lower interest rates: Lowering interest rates on educational loans will ease financial burdens on students, opening doors for quality education and enrollment in job-oriented programs

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Allocation for more medical colleges: To ensure more students receive quality medical education, funds should be allocated for new medical colleges

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Focus on rural education: Improving rural education is crucial; more centres of excellence similar to Kendriya Vidyalayas should be opened

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Enhancing Science labs: Science laboratories in government colleges are in poor condition nationwide; there should be a special fund allocation for their improvement

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