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Digital Currency and Financial Inclusion! Here is What Experts Say About Union Budget 2022
“Dr. Akhil Shahani, Managing Director, Thadomal Shahani Centre for Management, Shahani group and CEO, Ask.Careers Considering the experience of e-learning in the pandemic, it is good that the government is seriously looking at integrating online technology to make our education system more inclusive for the less-resourced segments of the population. However, it is important to realize that online technology is no substitute for good quality brick & mortar schools & colleges, as many students have fallen behind over the last 2 years of the lockdown. So, it would have been important for the government to have focussed on efforts to train more teachers & support the building of more institutions. Another good initiative is the increased focus on skilling and upskilling to improve employability among our youth. Along with the new skill-oriented National Higher Qualification Framework being issued by the UGC, I see better integration between the academic & vocational streams of education. Allowing foreign university campuses to be set up in Gujarat’s GIFT city will hopefully be an interesting pilot initiative that could encourage foreign universities to expand into other Indian states. A couple of initiatives that were not addressed was the reduction of GST rates for Edtech services & allowing private for-profit investment into India’s schools & colleges, which could have greatly helped expand quality education across India.
As we enter into the third wave of the Pandemic, it is quite evident that the Early-Years Education sector needs the Government’s support in this year’s Budget. While last year saw a reduction of education spending by over 5%, an increase of 10% or above becomes vital.
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