10 Forecasts For EdTech And Higher Education In The 2024 Union Budget
Enhancing Digital Infrastructure for Education
Providing lots of money to make online learning better, training teachers on how to use digital tools, and improving internet access in rural areas. This follows the National Education Policy (NEP) 2020.
Reducing GST for Digital Education
Reducing the GST on online educational content and services to make them more affordable and accessible for students from different socio-economic backgrounds.
Expanding Scholarships and Fellowships
Expanding scholarships for talented students from disadvantaged backgrounds to include vocational and skill-based training programs.
Reforming Student Loans
Introducing new student loan programs that offer lower interest rates, longer repayment periods, and repayment plans based on income. This aims to make higher education more affordable and encourage more students to enroll.
Boosting Skill-Centric Education
Increasing funding for vocational training schools, enhancing skill development programs in educational institutions, and encouraging private sector investment in skill-based education, all to meet the needs of industries.
Supporting EdTech Innovation
Creating special funds or centers to support EdTech startups, conduct research in educational technology, and create new and creative learning solutions.
Emphasizing STEM Education
Increasing investments in Science, Technology, Engineering, and Mathematics (STEM) education initiatives, such as funding research, improving lab facilities, and organizing training programs for teachers.
Addressing TCS Concerns for Overseas Education
Responding to parental concerns regarding sending their children abroad for education by reconsidering the Tax Collected at Source (TCS) rate or exploring alternative remittance options with reduced tax burdens.
Investing in Teacher Training and Research
Allocating resources to ongoing professional development programs for educators, providing grants for research in teaching methods, and implementing initiatives to attract and retain teaching talent.