Expectations from upcoming budget – Education & Health Sector

Dr. Sibaram Khara, Vice Chancellor, Sharda University

We anticipate great things from the incoming budget, as we are among the best private colleges in the world. We hope to see a 10% increase in funding for higher education, especially for private universities. We are looking for funding for research and innovation, financial support from the government for projects, and help with technology partnerships with industry and top research centres. Furthermore, we expect a twenty percent rise in the funding provided to universities to assist with startup incubators, career training, and entrepreneurship. Furthermore, we are requesting permission and support to open campuses of Indian higher education institutions abroad. Support is one of the most important things we need in order to establish India as a hub for internationalization.

Rajeev Gupta, Admission Director, Sharda University

Since the salaried class is the largest income tax payer and does not receive any benefits in their daily lives, budgets before to 2024–2025 neglected them. They anticipate higher income tax rates as well as additional benefits in their daily lives, such as free health insurance, free tolls on toll plazas, and reduced GST for taxpayers in higher tax brackets. As a result, he or she takes pride in paying more income tax.

Prof. (Dr.) Jayanthi Ranjan, Dean Academic Affairs, Sharda University

Key elements for the higher education sector are what I anticipate to see in the Union Budget. I hope that more money will be given to the education sector, which will enable upgrades to research facilities, infrastructure, and academic advancement in general. Funding for research and innovation is essential, and incentives for cooperative initiatives that meet industrial demands should be included. Initiatives for skill development in collaboration with the government would improve graduates' employability. In order to improve our university's reputation internationally, I aim for policies that encourage the use of technology in the classroom and programs that foster cross-national partnerships. Higher education would become more accessible if there was financial support for students in the form of scholarships and inexpensive education regulations. Moreover, tax breaks for universities and financing for systems of quality control would support the upkeep of high academic standards. For the institution to expand, there must be a sufficient investment made in its physical infrastructure, including classrooms and research facilities. Overall, I anticipate that the budget will make sure that private institutions contribute significantly to the advancement of the nation by coordinating educational policies with national development goals.

Dr. Nihar Ranjan Roy, Associate Professor, Center for Cyber Security and Cryptology, Sharda University

There is no debate today that IT is the new highway for development. The upcoming budget must focus on this, especially sub areas like: building digital Infrastructure, skill development, Research and development (Quantum Computing, Cyber Security, and Generative AI) , Cyber security (Awareness and defense) and promoting startups. It must also focus on simplifying processes.

Govt. must focus on technologies of the future like quantum computing and building quantum computers, securing Bharat’s digital space, having our own data centers and using the data for AI and decision making for new policies.

More and more IT based skilling and promoting startups is required. The threats coming from the latest cyberspace should be addressed and awareness must be created among citizens. Strict rules related to privacy, spamming and phishing should be made and strictly implemented. Number of Cyber police and centers should be increased. Awareness based training must be imparted to govt officials so that they can understand the changing digital landscape.

R.D. Sahay, Advisor Policy, Sharda University

Our primary expectation from the upcoming budget is an increased allocation of funds in real terms to the higher education sector. Since at present R&D expenditure, as a proportion to GDP, is only 0.7%, there has to be a substantial increase in grants for research and innovation; such an increase is imperative for creation of new knowledge and crucial for propelling the sector forward to keep pace with the global standards. Creation of new knowledge is likely to result in development of new technologies, possibility of new businesses, innovation, entrepreneurship and start-ups. Further, the budget should stimulate certain structural reforms in the economy by providing fiscal incentive and facilitating greater collaboration between the industry and academia, thereby ensuring that the curriculum remains relevant and student’s industry-ready upon graduation.

Dr AK Gadpayle, Head Deptt of Medicine, Sharda Hospital

We feel that stability in corporate tax rate, strengthening of manufacturing units,investor grab opportunity, attract private funding, increase health sector GDP, special program for mental health and Geriatic,more funding for power,emphasis on green hydrogen, care for global warming,sanitation and pollution, care for capital expenditure, building communication, like road,sea,air ,providing safe drinking water, income tax on home appliances,grocery to be reduced. Education sector to be boosted up.

Dr . Shrey Srivastav, General Physician, Sharda Hospital

1) Expansion of Ayushman Bharat or similar scheme to middle class family:

“Health Insurance of India’s Missing Middle”.

As per the report, the missing middle account for nearly 40 crore Indian citizens who still lack any health insurance protection.

2) Increase in tax deductions on preventive healthcare checkups:

The tax deduction limit should be raised from Rs 5,000 to Rs 15,000 per family. The tax benefit will promote more citizens to opt for preventive health checkups, this could help in early diagnosis.

3) PLI Scheme for Healthcare Services:

Production-Linked Incentive (PLI) scheme for medical devices. Should also consider introducing a service-linked scheme for the healthcare sector.

4) Higher tax benefits for healthcare skilling and development sector:

Currently, according to Section 35CCD, of the Income Tax Act, a manufacturing company should have a weighted deduction of 150% of the expenses incurred on the skill development of its employee.

5) Government should establish the separate healthcare infrastructure fund:

The government should give more focus on the Micro, Small, and Medium enterprises (MSME) sector, startups, medical device parks and other sectors in many ways.

Rajita Kulkarni, President, Sri Sri University

“The education sector received a substantial boost in the last budget, marked by the highest-ever allocation. Expectations for this year include additional momentum with measures to address skill development, increase employment, and promote entrepreneurship. To tackle challenges like skill mismatch, the government is urged to maintain its focus on youth education through increased vocational training institutes, technical and IT skill development, and enhanced analytical skills. This investment is envisioned to lead to increased employment, reduced income disparity, and overall economic growth. Future-oriented education, coupled with strategic collaborative efforts from industry and academia is essential for maximizing the impact of budget allocations.

In alignment with the rising trend of startups, the government should prioritize developing entrepreneurial skills among students. Fostering an entrepreneurial spirit envisions a future where students become job creators, contributing to economic growth. While the Start-up India and many other flagship programs were introduced, further efforts are needed, and educational institutes should be supported with budgetary allocations for their incubation and innovation centres. Support for design labs/maker spaces at educational institutes with cutting-edge facilities will facilitate deeper exploration and innovation.

The previous budget emphasized women-centric policies, including Free Skill Development, Beti Bachao Beti Padhao, and Digital Skilling Initiatives - there is optimism for sustained progress. A revamp of agricultural education is crucial for attracting talent, emphasizing the need for knowledge, technical skills, and supportive policies. As outlined in NEP 2020, maintaining high standards in agricultural education ensures graduates are well-equipped for national and international challenges. Additionally, a forward-thinking curriculum for integrative medicine is hoped for in the upcoming revisions.

The Union Budget 2024 is eagerly awaited as a potential catalyst propelling India's education sector to global leadership.”