Expected Union Budget 2023 in Education Sector

On the 1st of February 2023, Nirmala Sitharaman will present the Union Budget 2023 at 11 am. This is the fifth straight year when Finance Minister Nirmala Sitharaman will present the Union Budget and the third consecutive year when she will deliver it in paperless mode. As the edu-tech industry has been blooming in the last decade, it is expected that the Union Budget will focus on initiatives and policies to support the growth of the education section.

Post-pandemic the world has appreciated and embraced the benefits and functionality of technology in the education sector. India has witnessed the focus of the previous Union Budget on the expansion of the accessibility of technology and education specifically in the rural areas.

The expected Union Budget 2023 in Education Sector includes tax incentives for edu-tech companies, start-ups, and initiatives to stimulate the use of technology in the education sector. This might also include the Government of India’s focus on vocational training and skill development as per the current job market trends and scope.

The Union Budget 2023 might also include investment in digital tools like artificial intelligence-based education systems, virtual and augmented reality, and learning management systems to enhance the learning experience of the students. Encouraging research programs to come up with new and advanced approaches to education.

As the National Education Policy 2020 is yet to be implemented completely. Therefore, the implementation of the reforms through various initiatives is expected in the Union Budget 2023 for the education sector. Initiatives to promote India as a global education destination such as setting up new campuses of foreign universities in India along with tax incentives for foreign universities and simplification of the visa process for foreign students are highly expected in the Union Budget 2023.

To access the Live Broadcast of the Union Budget 2023 Presentation by Nirmal Sitharaman, one must tune into Doordarshan and Sansad TV. The Finance Minister will deliver the Union Budget 2023 for the fiscal year 2023-2024.

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