Education industry lauds 'Study in India' move, calls Sitharaman's maiden Budget 'step in right direction'

India's first woman full-time Finance Minister, Nirmala Sitharaman, on Friday, presented her maiden Budget speech, dotted with quotes and poetry, in Parliament.

In the Union Budget, the 59-year-old FM laid emphasis on launching the 'Study in India' programme to attract foreign students to the country, while also saying that the Narendra Modi Government will introduce a new National Education Policy.

Sitharaman said that higher education in the country will be reformed comprehensively, and proposed an allocation of Rs 400 crore for world-class higher education institutions. Adding that schools in the country will be made future-ready with a focus on research, robotics and AI.


Calling the proposed announcements on education in the Budget 'a positive step in the right direction', Kanak Gupta, Director, Seth M.R. Jaipuria Schools, said, "As India marches towards becoming a $3 trillion economy, it is important to bring the education ecosystem up to, and beyond, global levels. The status of education is often a healthy predictor of the country’s overall development and well-being."

Gupta expressed excitement about the proposed setup of the National Research Foundation, calling it a 'game-changing' move.

"I’m hopeful that the National Education Policy will focus on upskilling of both teachers and learners to meet global levels, and ensure we don’t send our brains abroad, nor do we spend millions of dollars in tuition and living costs. Study in India, Stock exchange for Social Enterprises will be a boost for the Tier 2/Tier 3 educational institutes as well," he added.

Gupta also called the announcement of a TV channel dedicated to start-ups 'a win-win for institutes and students on higher-ed as well'.

He went on laud Sitharaman for her 'focus on improving education with a target towards future, sustainable growth'.

Pearson India MD Vikas Singh also applauded the Government's decision of establishing the National Research Foundation, saying that the move will 'reinvigorate research that is critical to building indigenous products and solutions'.

Commenting on the Union Budget, Singh said, " It has recognised the importance of technology in the growth of the country by announcing training of 10 million youth in industry-relevant skills such as AI, IoT, and Big Data. While the move will enable India address the skill-shortage, it will also allow the current talent pool to be future-ready. The allocation of funds to build world-class higher education institutes is a big foot forward in strengthening the roots of Indian education system. We are confident that with a renewed focus on quality education and technology being the pivot, the Indian education sector will be benefited in years to come.”