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Budget 2024: Increasing budgetary allocation for education, ensuring utilisation will be the key



After the budget last year, the general consensus was that while the budget was a positive one overall, the education sector seemed to have been given the short shrift and that a big opportunity had been missed to strengthen the education system in India and to make it world class. We earnestly hope that this year’s budget addresses this concern and takes the necessary steps in this direction.

The key issues to be addressed are:

1. Budgetary allocation to the education sector: This needs to be brought in line with the recommendations of the National Education Policy (NEP) 2020. The NEP recommends that 6% of the GDP be allocated to the Education sector. The allocations have been much less than this in the last three budgets. This is an aspect that needs to be addressed on very high priority, especially considering that the NEP has been carefully worked out by the current government itself. It is only natural to expect the government will do what it has itself, in a way, recommended. There is absolutely no denying, that money (well) spent on education will be critical in improving the employability and productivity of future generations.

2. Appropriate utilisation of funds: Taking steps to ensure that the allocated funds are utilised on the intended projects/items.One of the tragedies of our education system is that while the allocation itself has been significantly lower than desired, the allocated amount also does not get fully utilised. This has often been the case in the recent past. This only points to the lack of a serious implementation plan for the NEP, despite its latest version (done in the year 2020) being in place. This needs to be addressed at the vision level by senior-most officials at the top-end and by constant monitoring of the implementation at the ground level.

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3. Manning it correctly: Both the points discussed so far point to the dire need of getting the right people to man these at the top-levels who will drive the allocation to the sector and then envision the appropriate channels into which they are further directed for appropriate spending. This has to be coupled with the necessary authority and control to these people to oversee the implementation of the allocated items at the ground level.That education is a concurrent subject does complicate matters a bit as the control of the central government in state-level implementations would be constrained. However, this can be addressed innovatively by setting up a competitive environment among states in the various activities that are envisioned and making public the standings of these competitions. This could force the laggard states to get their act together for fear of losing out in the public eye. 4. Creating world-class institutes/universities: India cannot boast of a single university in the world’s top 100. This is a matter of deep concern for a country with the largest population in the world. This is something that should be addressed on highest priority, focusing on developing at least a handful of such institutes with the intent that some of them would make it to the top listings soon. The solution to this, however, cannot be setting up new universities as the gestation period for them to bear results would be very long. This should, instead, be done through improving the current premier institutes of the country to world-class levels. In doing so, the government will ensure that we reduce our dependence on external technology. This is clearly a long-term project but it is never too late to embark on such a journey as it promises great returns not only for the education sector, but for the economy at large including the general public.5. Summing up: Many of these are important systemic changes that need to be brought about in the long-term interest of the entire education system. One understands the difficulty in implementing some of them. However, where there is a will, there is a way. One can only hope that the government moves on these expeditiously keeping in mind the long-term interests of the country.

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The writer is Founder & Director, Triumphant Institute of Management Education (T.I.M.E).



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