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The Silicon Review Asia

New Budget has been kind to the education sector and significant improvement is expected

New Budget has been kind to the education sector and significant improvement is expected

New education policy was suggested by India’s Finance Minister Nirmala Sitharaman in the Union Budget 2020. Besides the fact that the policies will significantly improve the education landscape, it is also expected to create employment in India and abroad. By 2030 India will have one of the largest groups of the working-age population. The FM stated that to make full use of the workforce, people must be both employed and have life skills. The budget has allotted Rs 99,300 crore for the education sector and out of that almost Rs 3000 crore is expected to be used for skill development. The previous year’s budget had allotted Rs 94,800 crore for education. Foreign direct investment and External Commercial Borrowings is much needed for the education sector to meet the new demands.

To look beyond the outside investments the government wants to encourage and attract domestic talents and investors. The new budget suggested an Ind-SAT, to evaluate the potential candidates from African and Asian countries who want to study in India. The new test will be used as a benchmark for deciding the scholarships for studying in India. Some of the other proposals from the FM in the budget includes a National Forensic Science University and a National Police University.

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