Image of a male teacher teaching in a rural school of India.
Credit: iStock Photo
Finance Minister Nirmala Sitharaman will present the 8th consecutive Union Budget on February 1, 2025. Reports suggest that the government is mulling over cutting income tax for those who are earning up to Rs 15 lakh a year in February's budget, in turn providing relief to the middle class.
The education sector have pinned high hopes on the Union Budget FY 2025-26 documents and are keeping their fingers crossed regarding their expectations from the government's most important financial document of the year.
"As India strives to position itself as a global knowledge hub, the upcoming Union Budget 2025-26 presents a critical opportunity to address the pressing needs of the higher education sector. The focus must be on fostering research and innovation, enhancing graduate employability, and bridging the gap between academia and industry. Increasing the allocation for higher education is essential to upgrade infrastructure, promote research and development in emerging areas like artificial intelligence. To tackle the growing skill gap, the government should incentivize collaborations between universities and industries to align curriculum with market demands.
Additionally, corporate social responsibility (CSR) contributions should be encouraged further in the higher education sector, ensuring increased funding for academic excellence and skill development programs. Removing taxation on the purchase of research equipment will significantly boost research productivity and innovation.
The Anusandhan National Research Foundation (ANRF) must be made more inclusive by extending its benefits to private institutions, recognizing their vital role in driving research and innovation.
Equally important is the need to ensure equitable access to quality education. Expanding scholarships, strengthening public institutions in rural and underserved regions, and leveraging technology for inclusive learning can drive transformative change," said Vinay Maheshwari, Executive Director, Mohan Babu University.
Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.