Try Eduvacancy Today!
Get more out of Eduvacancy. Get full access to our
wide range of features!
#Ed-Tech #Budget
The Ed-tech space will surely be affected by the Union budget of 2021. One of the key takeaways is the aim to switch to digital learning. Ed-tech companies, however, were eagerly expecting assistance from the budget. This could include any tax cuts as well as post-Covid assistance.
Ed-tech companies had put forward several expectations for Budget 2021. There was an expectation that at least 6% of the GDP should be directed at improving the Ed-tech sector. The aim of this is to improve the quality of the workforce in India that is poised to be home to a growing education sector.
Good funding is also required to take the scope of India’s Ed-tech industry beyond its borders. In making it a global force, the budget allocation would help. The number of youth who have displayed an interest in the online education space is excellent as well.
However, the Ed-tech infrastructure is still lagging and can be improved drastically. Budget 2021 should address these challenges. The idea is to make online education accessible to the many students who have the potential to learn from it.
It is also to make it scalable and allow the infrastructure to support huge growth.
One of the key takeaways from the National Education Policy (NEP) is the aim to improve collaborations with foreign universities. The aim is to promote joint as well as dual degrees and hence create a more skilled workforce.
The Budget allocates resources to this, hence ensuring that Ed-tech companies who are aligned with this goal benefit. It also aligns with Ed-tech companies that are bringing the courses of offline institutions to online spaces.
Further, 3000 crores have been allocated to the realignment of the National Apprenticeship Training Scheme. It is a great way to bridge the institution-industry gap in education. It is a great space for the Ed-tech sector to pioneer and create new opportunities.
