Pre-Budget: 5 key investments needed in the education sector

If India is to position itself as a developed economy in the next decade, we must prioritize the education of our children, the true architects of our nation's destiny. The following key areas demand immediate attention and increased investment in the upcoming budget and beyond.

Aligning Budget Allocations with Global Benchmarks

The stark contrast in education budget allocations between India and countries considered benchmarks for quality education. While Nordic countries and the United States invest 5-6% of their GDP in education, India lags behind at 3%. I would like to urge a significant upward revision to align with international standards.

Targeted Funding for Key Areas

The launch of specific schemes and increased budgetary allocations in critical areas such as Early Childhood Care and Education (ECCE), teacher training, and the development of skill-based courses for K-12. These targeted investments are essential for fostering a robust educational ecosystem.

Promoting Education Technology

To enhance physical school operations and teaching methodologies, I would like to suggest providing subsidies to encourage the widespread adoption of education technology. This includes both hardware and software applications, ensuring that schools are equipped with the tools necessary for modern, effective education.

Corporate Investments in K-12 Education

Introduction of incentives, subsidies, and tax benefits to companies directly investing in K-12 education. This strategic approach aims to leverage corporate support in fortifying the foundations of our educational institutions.

Elevating Teacher Training and Compensation

The creation of a comprehensive ladder of training, development programs, and qualifications for teachers. I would recommend linking teachers' salaries to their qualifications, fostering a continuous improvement mindset throughout their careers. This approach not only enhances the quality of education but also rewards educators for their commitment to professional growth.

Simplifying Education Loans

For streamlining processes and providing subsidies to Indian citizens seeking K-12 education loans from banks. This initiative aims to facilitate easier access to financial support for families aspiring to provide quality education for their children.

(The author is CEO, Zee Learn Ltd)