Budget 2024-25 Outlook: Education Sector

Ajay Gupta, Founder & CEO, Bachpan Play School
“Our country has been making concerted efforts to reform the educational landscape and as an edupreneur, this fact immensely reassures me. Considering the positive developments that have filled not only me but all of us with anticipation over the past few years, it won’t be surprising to say that the implementation of the NEP 2020 and the launch of the PARAKH Rashtriya Sarvekshan 2024 top the list.

We are now one step closer to overhauling our education sector for the better. In a world where personalised learning and inclusivity had not been popular words until recently, they are garnering increasing attention from educators, parents and policymakers alike. It surely won’t be long before digital learning platforms, skill-based education, and the integration of AI open unlimited opportunities for every child in the country, irrespective of background and abilities.

Through our newly launched skill-based curriculum at the Bachpan and AHPS Group of Schools, we have increasingly been playing our part in the education sector with deeper sincerity. It is hoped that such advancements will only accelerate until we achieve our objectives for our younger and future generations, together as a country.”

Supriya Pattanayak, Vice Chancellor, Centurion University of Technology and Management,
Odisha

"The Union government has always put special focus on skill development and we are extremely glad that this budget is set to take it to the next level. The announcement by the finance minister on the increased budgetary allocation for skilling, education and employment is a welcome step and would go a long way in India's vision to consistently create an industry-ready workforce. The Prime Minister's package of schemes and initiatives for skilling and employment is likely to benefit over 4 crore youth across the country, further aided by the dedicated Rs 1.48 lakh crore allocation for education, employment and skilling.

The other highlight of this year's budget is the setting up of 1000 industry training institutes and new courses for emerging needs. With our campus already housing more than 50 industry-sponsored Action Labs and manufacturing units, we can vouch for the immense benefit of it as compared to conventional higher education methodologies. Also, loan provision up to 10 lakh for higher education in domestic institutions and the new internship scheme are welcome steps and point towards a bright future for India."
 

Saurabh Arora, Founder & CEO, University Living
“The 2024 budget lays a foundation for a skilled, empowered and future-ready India. University Living congratulates the Finance Minister's 2024 budget and strong commitment to education, employment and skilling, reflecting a strategic vision for India's future. The comprehensive package of five schemes reiterates government's dedication to empowering the youth. Allocating Rs 1.48 lakh crore for education, employment and skilling initiatives are a significant step towards nurturing a skilled workforce within the country and becoming a source for the rest of the world. The key priorities to skill 20 lakh youth over the next five years, upgrading 1,000 ITIs and aligning course content with industry needs to address the skills gap are all welcome moves. However, India needs at least 1500 HEIs to support the growing student population of 40 million students aspiring for higher education opportunities. The financial support through student loans up to Rs 10 Lakh for those pursuing higher education in the country is encouraging. Yet, it's important to recognise the gap in opportunities for students aspiring to study abroad. Increasing support for international education would further enhance India's stance in the global educational ecosystem."
 

Sachin Jain, Country Manager, ETS India and South Asia

“The Union Budget for FY 24-25 presented by Finance Minister Nirmala Sitharaman highlights a significant focus on youth, employment and skilling. The comprehensive package of schemes aimed at facilitating employment and skilling initiatives is a step in the right direction. With a significant allocation of Rs 2 lakh crore, targetting 4.1 crore youth, the union government has signalled its policy priority of revamping the skilling landscape in the country. However, while the announced measures, such as the DBT support and the upgradation of ITIs, are promising, there is still more that could be done to
address the challenges faced by our youth in the rapidly evolving job market.

We welcome the centre’s decision to launch a new centrally sponsored Scheme for providing paid internship opportunities in the top 500 companies, but we believe that it is imperative to complement practical training with critical soft skills, such as English proficiency, which are key markers of employability. We believe that standardised tests play a crucial role in supporting equitable access to higher education by providing a fair and objective measure of student abilities, regardless of their socio-economic backgrounds. We encourage the government to consider integrating internationally
accepted, robust assessment frameworks to complement these initiatives, ensuring that every student has the opportunity to demonstrate their potential and succeed in a competitive academic and employability landscape. We look forward to seeing how these initiatives unfold and contribute to building a robust, future-ready workforce in India.”
 

Krishan Mishra, CEO, FPSB India
"We at FPSB India commend the Finance Minister for addressing the skill gap through this Union Budget 2024, introducing initiatives to upskill 4.1 crore youth with a Rs 2 lakh crore outlay over five years. FPSB India stands aligned with the centre and is committed to upskilling professionals with the financial planning education. Further, the Prime Minister’s package, including Employment Linked Incentives and support for first-time employees, is a significant step towards empowering the youth with opportunities. Incentives to IFSC, such as tax exemptions for retail schemes and reductions in tax rates for foreign companies, further enhance and strengthen the investment ecosystem in the country. FPSB India, is dedicated to IFSCA in providing a steady stream of skilled financial planning professionals for GIFT IFSC and jointly establish GIFT IFSC as a ‘Global Finance Hub' ."
 

Pankaj Dhingra, Managing Partner, Co Founder, FinTram Global LLP

"FinTram Global applauds the Union Budget 2024-25 for prioritising education and skilling opportunities, alongside paid internships for Indian students. The revision of the Model Skill Loan Scheme to facilitate loans up to Rs 7.5 lakh, backed by a government-promoted fund, is expected to help 25,000 students annually. Additionally, the financial support for education loans up to Rs 10 lakh, with e-vouchers providing annual interest subvention of 3 per cent for 1 lakh
students, is a transformative measure. This initiative will significantly benefit our country's vast talent pool, ensuring accessibility and affordability of higher education opportunities for all. We are proud to align with these efforts, empowering youth and women through education and skill development."
 

Abhijit Zaveri, Founder & Director, Career Mosaic

“We welcome the Union Budget 2024-25 and commend the Union Finance Minister for identifying Yuva (Youth) as a key focus area. The emphasis on financial support for students is highlighted by the allocation of Rs 1.48 lakh crore for skill development, employability and education. The FM announced that e-vouchers will be given to 1 lakh students, showcasing the government's intent to revamp the education sector and increase the Gross Enrolment Ratio (GER) in traditionally low-enrollment sectors/regions. The model skill loans scheme will also be revised to offer loans up to Rs 7.5 lakh, benefiting 25,000 students annually.

Another key highlight is the new internship scheme for 1 crore youth in over 500 top firms in India, providing real-world experience and improving job prospects. We eagerly anticipate further details in the full budget document, particularly regarding collaboration with international universities, which plan to set-up academic campuses in GIFT City and other parts of the country. On the whole, the budget represents a promising step towards empowering the youth of India and help them build a brighter future.”
 

Muddassar Nazar, CEO, Birla Brainiacs
“This year has been a transformative journey for Birla Brainiacs. In 2024-25, we grew our paying customer base by 30 per cent and achieved a remarkable 37 per cent increase in revenue. Our retention rate of 70 per cent and refunds at less than 3 per cent underscore the trust and satisfaction of our community. These numbers reflect not just growth but the meaningful impact we are making in the lives of students and families.

Looking ahead, our vision for 2025-26 is clear — to double our impact by expanding access to quality hybrid education and leveraging technology to create even more personalised learning experiences. With the foundation we have built and the lessons learned, I am excited about the possibilities the future holds for Birla Brainiacs and the education ecosystem. Together, we are not just growing; we are redefining what’s possible in education.”
 

Dr Ashok Kumar Mittal, Founder & Chancellor, LPU
"By 2025 and beyond, we expect that teaching will be transformed by technology, inclusivity and alignment with industry in ways that will be impossible to ignore. We firmly believe at Lovely Professional University that commencing the reformation of knowledge in itself is the best way through the adaptation of AI, similar immersive learning tools and sustainability. The 21st-century
competencies we prioritise, namely critical thinking, adaptability and lifelong learning, allow students to be career-ready and equipped to take a global leadership role. Our future education will be based on creating a collaborative ecosystem where institutions, industries and technology come together to shape a more innovative and inclusive world."
 

Amit Saneja, CEO, Educate Online
"2024 has been nothing short of a game-changer for the education technology space, a year where we tossed old playbooks and unlocked new possibilities. It has been about breaking down outdated assumptions and building solutions with innovation and a problem-solving mindset at the core.

As we gear up for 2025, it is clear that education technology is moving beyond just going digital. It is about creating real, impactful learning experiences that put students first and foster meaningful collaborations and not just hitting reset on traditional methods.

What truly stands out in this transformation is the evolving relationship between traditional and digital learning environments. They are no longer in competition but are teaming up to deliver optimised, student-focussed solutions. It is a mindset shift, proving that the future isn’t about choosing sides and is more about making them work together."

Amit Baveja, Managing Director, Burlington English, India & Southeast Asia
“The Union Budget 2024's initiatives to enhance digital infrastructure, educational facilities and learning support are timely and commendable. The government's focus on empowering youth through skilling and education is particularly noteworthy. However, I encourage the government to further support learning initiatives, especially in the K-12 sector, by improving digital infrastructure
and prioritising the upskilling of educators. Collaborating with educational organisations and skill-development entities will broaden upskilling
opportunities for the Indian population through programmes, certifications and employment. Allocating funds for continuous technological development and establishing a solid regulatory framework is essential for the sector's growth. While the announced measures, such as the DBT support to eligible employees and the upgradation of ITIs, are promising, more concentrated efforts are required for bolstering the youth employability. For instance, targetted support for English proficiency for learners and other critical soft skills will enhance formal employment. Additionally, a reduction in GST for skilling institutions will further augment the sector. We look forward to seeing how these initiatives unfold and contribute to building a robust, future-ready workforce in India and we remain committed to supporting these efforts through our expertise and resources.”
 

Meenakshi Kachroo Chatta, Senior Director & Regional Head, College Board – India, South & Central Asia
“The upcoming budget presents a unique opportunity to transform the landscape of higher education in India. We anticipate significant investments and initiatives aimed at enhancing accessibility to quality education through increased scholarships and financial aid. This support is crucial for students aspiring to study both within India and abroad. With the growing demand for international education, the budget must address the need for better financial assistance. Beyond this, we hope to see announcements that foster international academic collaborations and invest in technological advancements in education. Moreover, investments in digital infrastructure will ensure that students from all corners of India can access world-class education and resources. By prioritising these aspects, the budget can be a catalyst for empowering Indian students to become global leaders. Such measures will not only democratise access to premier educational institutions worldwide but also strengthen India’s position in the global academic community.”
 

Mayank Kumar, Co Founder and MD, upGrad
“Budget 2024-25 allocations towards skilling and employment and startup growth marks a watershed moment in India's journey towards becoming the world's largest talent economy.

With a very strong emphasis on skilling and employment and bridging the talent-academia gap, GOI's allocations — to fuel aspirations of 4.1 crore youths, empower women to join the workforce and provide tax benefits and loans like skilling loan (upto Rs 7.5 lakh) and education loan (upto Rs 10 lakh) — is a masterstroke, set to unlock India's demographic dividend and drive growth. This budget is not just a financial plan but a blueprint for a brighter future where India's youth will thrive and continue to lead global job requirements.

Innovative initiatives announced, such as the scheme to boost job creation in the manufacturing sector, incentives for EPFO contributions and reimbursement for additional employee EPFO contributions, demonstrate the government's commitment to creating a conducive employment ecosystem. India's economic growth, described as a 'shining exception', will propel its focus on innovation and
growth with a focus on job creation and skilling. The skilling loan and education loan initiatives will further empower India's youth to drive growth
and innovation."

Shridhar Venkat, CEO, The Akshaya Patra Foundation

"The 2024-2025 budget brings positive direction for education and nutrition in India. The National Means cum Merit Scholarship Scheme has received a significant boost, with Rs 377 crore allocated for 2024-25. Together, these initiatives will help talented students from economically weaker sections continue their education beyond schooling, reducing dropouts and nurturing
potential."