Education Budget 2024: How Educationists Reacted To The Interim Budget

Union Finance Minister Nirmala Sitharaman presented the Interim Budget 2024 today.

FM noted that female enrollment in STEM courses has surged to 43% ( Image Source :Getty )

Union Finance Minister Nirmala Sitharaman presented the Interim Budget 2024, delineating the government's strategies for the remainder of its term. A comprehensive budget is slated to be presented post the Lok Sabha elections in 2024, upon the formation of a new government. During her address, Sitharaman noted that female enrollment in STEM courses has surged to 43%, positioning it among the highest globally. Additionally, the government aims to bolster healthcare services by establishing more medical colleges, leveraging existing hospital infrastructure. 

Talking to ABP LIVE, Prof. Mousumi Bhattacharya, IIM Shillong, said, "In the interim budget for FY 2024-25  the major income tax slab remains unchanged. The budget focuses on achieving the mission of “Viksit Bharat” by 2047 with a focus on infrastructural development and about 2 crore more houses under the Pradhan Mantri Awas Yojana - Gramin ( PMAY-G). So homes will become much more affordable. To encourage the private sector to scale up research and innovation, a corpus of Rs 1 lakh crore will be established with a 50-year interest-free loan. This is a welcome move for the millennials. The budget also unveiled a comprehensive plan to achieve a Net  Zero Target by 2070."

Prof. Abhradeep Maiti, Chairperson of Admissions and Economics at IIM Kashipur said that the Government's education priorities are spotlighted in this Interim Budget 2024. He said, "In the interim budget 2024, the Skill India Mission's success was highlighted, ensuring equal focus on governance, development, and performance. The mission trained 1.4 crore youth, upskilled 54 lakh individuals and established numerous educational institutions, including ITIs, IITs, IIITs, IIMs, AIIMS, and universities. The government's strong emphasis on funding the National Research Fund and establishing the Higher Education Commission aims to enhance digital infrastructure and meet growing educational demands."

Commenting on the Budget, Neeti Sharma, Co-Founder, TeamLease Edtech, said, ‘’It is truly uplifting to witness the surge in female enrollment in higher education, a development poised to enhance the employability of female students and elevate their socio-economic well-being of both themselves and their families. The notable presence of over 43% of women in STEM programmes is a source of great encouragement, paving the way for improved employment prospects for these individuals and serving as a catalyst to inspire countless others. The ongoing governmental backing, particularly in sectors such as EV manufacturing, promises the generation of many new job opportunities that would require diverse skills and experience levels."

Dr. Dhruv Galgotia, CEO, Galgotias University commended the government's dedication to youth empowerment.

Dhruv Galgotia said, "We commend the government's unwavering dedication to youth empowerment and education reform, exemplified by the National Education Policy 2020. The strides made through initiatives like the Skill India Mission, which has trained an impressive 1.4 crore youth, and the PM Mudra Yojana, sanctioning 43 crore loans totalling 22.5 lakh crore for entrepreneurial ventures, are pivotal in nurturing a skilled workforce and fostering entrepreneurial spirit among our youth.