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Budget 2024: PM Modi’s Expected Thrust in The Education Sector and Its Potential Cross-Border Impact

Budget 2024: Paving India's Education Future. Aligning with Global Trends and NEP 2020 for 1.3 Billion Learners

Budget 2024: India’s education landscape, catering to 1.3 billion learners and 10 million teachers, witnessed a landmark allocation of Rs 1.12 lakh crore ($13.66 Bn) in the 2023-24 Union Budget—an 8% increase from the previous year. As we await the 2024 budget, expectations are high for further advancements aligning with global educational paradigms.

2023 Budget Initiatives and Impact

The 2023 budget introduced pivotal initiatives that shaped the education sector significantly. The Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0, focusing on upskilling in AI, robotics, and 3D printing, strategically prepared India’s youth for global competitiveness. The Skill India Digital Platform bridged the gap between skilled workers and job opportunities. Teacher training transformed into centers of excellence, propelling educational standards towards global benchmarks. These initiatives marked a decisive turn towards aligning India’s education with global standards, preparing for future challenges.

Current Trends in Education Industry

Globally, online education is surging, with over 30% of higher education students in the United States enrolled in at least one online course. Personalized and adaptive learning, driven by AI and data analytics, is gaining traction. Virtual and Augmented Reality technologies offer immersive learning experiences, and micro-credentials address changing job market demands.

NEP 2020 – PM Modi’s Vision

The National Education Policy (NEP) 2020, with its emphasis on holistic and flexible learning, plays a crucial role in fulfilling Prime Minister Modi’s vision. This policy is designed to overhaul the education system, making it more contemporary and aligned with global standards.

Strategic Focus for 2024 Budget

  1. Enhanced Investment in Digital Infrastructure:
    • Bolstering digital infrastructure for widespread access to online learning, bridging the digital divide crucial for global competitiveness.
  2. Support for Personalized Learning Initiatives:
    • Strategic investment in AI and data analytics to tailor education to diverse learner profiles and enhance educational methodologies.
  3. Funding for VR and AR Technologies:
    • Investing in Virtual and Augmented Reality technologies to revolutionize India’s educational landscape with immersive learning experiences.
  4. Emphasis on Teachers Skill Development and Micro-Credentials:
    • Focusing on teacher skill enhancement and micro-credentials to align with global shifts and improve the quality of teaching.
  5. Educational-Industrial Partnerships:
    • Emphasizing collaborations between education and industry to enhance students’ job readiness, contribute to innovation, and provide practical exposure.
  6. Attracting International Students:
    • Initiatives to attract foreign students, contributing to diversifying the educational environment and strengthening India’s position as a global education hub.

The 2024 budget, by focusing on these aspects, can play a pivotal role in aligning India’s education system with global trends, fostering competitiveness and innovation.

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