Gujarat’s Educational Sector Praises Union Budget 2024-25 

Ahmedabad : The Union Budget 2024-25, which was presented by Finance Minister Nirmala Sitharaman on Tuesday, has been enthusiastically received by the educational sector in Gujarat. The budget has been praised by educationists throughout the state for its clear prioritization of critical national objectives, such as employment, skilling, innovation, and research and development. The allocation of Rs 1.48 lakh crore to education, employment, and skilling is considered a substantial stride toward the empowerment of the youth and the development of a resilient future workforce.

Rishabh Jain, President of Swarrnim Startup and Innovation University, highlighted the PM Internship Initiative, which aims to skill one crore youth over the next five years. “This is a commendable move by the government,” said Jain. “It offers both practical experience and financial support to young entrepreneurs, thereby fostering innovation and entrepreneurship at the grassroots level.”

Jain also lauded the abolition of the angel tax for all investors, calling it a landmark decision for strengthening the Indian startup ecosystem. “This move will facilitate easier access to early and growth-stage funds for startups, further bolstering the Make in India initiative by building an industry-ready and efficient workforce.”

The operationalisation of the Anusandhan National Research Fund and the establishment of a Rs 1 lakh crore financing pool for private sector-driven research are expected to significantly enhance India’s R&D capabilities. Jain noted that these measures would prove beneficial for startups and the broader innovation landscape in the country.

Dhruv Marwadi, Trustee of Marwadi University, echoed similar sentiments, emphasizing the budget’s focus on increasing employment, enhancing skilling, and improving education. “The budgetary allocation of Rs 1.48 lakh crore for education, employment, and skilling is indeed timely to shape a young, skilled workforce for New India,” Marwadi said.

Marwadi particularly appreciated the new skilling scheme, which proposes to upgrade 1,000 Industrial Training Institutes (ITIs) and train 20 lakh youth over five years. “This initiative is crucial for building a skilled workforce in sunrise sectors and new and emerging industries,” he remarked.

Another positive aspect of the Union Budget, according to Marwadi, is the emphasis on making higher education more accessible to the youth. The revision of the Model Skill Loan Scheme and the provision of financial support for education loans up to Rs 10 lakh are expected to play a pivotal role in this regard. “At Marwadi University, we applaud these initiatives and are committed to supporting them through our innovative programs and industry partnerships,” Marwadi concluded.