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Budget 2024-25 reactions “The provision of a Rs.5,000 internship

allowance and Rs.6,000 one-time assis-
“The Economic Survey’s unemployability tance, along with skilling 2.1 million youth
survey shows only 1 in 2 graduates in India over five years, will significantly boost
has the skills to be gainfully employed, opportunities. These measures, coupled
which represents a huge demographic chal- with enhanced educational support, will
lenge. The budget has prioritised upskilling empower women and youth, driving In-
of youth with an innovative internship pro- dia’s economic and social progress forward.” — Rashmi
gram. However, prioritising non-infrastructure spending Mittal, Pro Chancellor, LPU
in education in programs like vocational training and
internships is a critical step in the right direction to fix “The three newly announced ‘Employment Linked In-
systemic issues of youth unemployability.” — Akshal centive’ schemes — First Timers, Job Creation in Manu-
Agarwal, Co-founder at NatureNurture facturing, and Support to Employers — will undoubtedly
drive employment and boost the manufacturing sector.”
“An allocation of Rs.1.48 lakh crore has been made for — Ankur Goel, Founder & CEO Skillable
education, compared to an allocation of Rs.1.12 lakh
crore last year. This is an increase in “This budget marks a pivotal moment for the education
absolute terms and needs to be applauded. sector, with substantial investments aimed at revamp-
Moreover loans of up to Rs 7.5 lakh will ing our education system. It’s imperative, however, to
be provided with government guarantee monitor the implementation of these initiatives closely
for skilling courses and of Rs.10 lakh for to ensure they reach the intended beneficiaries.” — Dr.
higher education. We are hopeful that pub- Bhupendra Bahadur Tiwari, Professor and Direc-
lic expenditure on education will rise towards 6 percent of tor, CMR University, Bengaluru.
GDP in years to come.” — Shreevats Jaipuria, Chair-
man, Education Committee, PHDCCI “The thrust on education and skilling in
the Union Budget, presented by Union
“An important aspect of the budget is the Prime Minis- finance minister Nirmala Sitharaman,
ter’s package of five schemes and initiatives, to increase is welcome. The focus on employment,
employment and skilling for 41 million youth, with a skilling, MSMEs, and the middle class,
budget of Rs.2 lakh crore, over the next five years, high- addresses short-term and long-term
lighting a strategy that will meet future job demands and concerns of the economy. What I also
boost the economy.” — Rajeev Tiwari, Co-founder of like is the fact that the minister indi-
STEMROBO cated that States, Industry and Centre will collaborate
towards the common objective of training 20 lakh youth
“The allocation of Rs.2 lakh crore under over a period of five years.” — Prof Arvind Sahay,
Prime Minister Modi 3.0’s budget is a Director, MDI Gurgaon
transformative step towards enhanc-
ing education, employment, and skilling “The government's recent budget announcement is a
opportunities in India. Furthermore, commendable step towards addressing the critical needs
the PM's comprehensive package of five of our youth and workforce. The allocation of Rs.2 lakh
schemes aims to skill and employ 41 mil- crore over five years to focus on the skilling and employ-
lion youth over five years and will inject vitality into the ment of 4.1 crore youth is a transformative measure that
job market and foster a skilled workforce.” — Koneru demonstrates a strong commitment to the future of our
Satyanarayana, President, KL Deemed to be University nation.” — Rahul Attuluri, CEO of NxtWave

industry, government and services – class have to make small sacrifices in for developing 21st century India’s
and high ICOR (incremental capital- the larger interest of national develop- abundant and high-potential human
output ratio) typified by prolonged de- ment, especially of the world’s largest resource. It’s a tragedy that successive
lays in implementing capital-intensive child and youth population. Modest Union budgets of the BJP/NDA gov-
infrastructure projects. cuts in establishment expenditure, ernment embellished with resonant
With a short timeline of two de- middle class subsidies, revenue mo- high goals, have missed this oppor-
cades to go before the centenary of In- bilisation through privatisation of tunity.
dia’s independence, the nation is at an public sector enterprises and reduc- Perhaps a greater tragedy is the bo-
inflection point. The time is nigh for a ing defence expenditure (through vine indifference of the academy and
radical break from traditional incre- determined, bona fide negotiation of educated middle class to this injustice
mental growth development models. minor border adjustments with neigh- being visited upon over one billion
The establishment and middle bouring countries) is affordable price young citizens of the country.

AUGUST 2024 EDUCATIONWORLD 77