Budget 2022: helping e-learning start-ups to be part of the governing bodies of education
the Union Budget 2022-23 is likely to be shown by Nirmala Sitharaman who is the Union Finance Minister on 1st February 2022. It should be remembered that in the previous budget, the main concern of the government was the development of health and rural infrastructure.
This year, it is widely expected that the government could release many vital bulletins to strengthen the economy and empower the common man. Additionally, the Omicron strain of COVID-19[female[feminine increased problems amid the financial recovery in the financial system.
Read also : Budget 2022: areas to focus on to reach India’s 5 trillion savings by 2025
According to KPMG reports, India has gained a reputation as the second largest e-learning market next to America and the arena has reached $1.96 billion in 2021. The government has also formulated the National Educational Digital Architecture (NDEAR) to not only help the teaching-learning method, but also propel the planning, governance and management of pedagogical education, said Bhavesh Goswami, Founder and CEO of CloudThat, while sharing his expectations regarding the budget of the Union 2022 for e-learning region.
“Without a doubt, the government’s initiatives are commendable as it has made major strides in building a strong e-learning ecosystem. Furthermore, I believe that in the next Union budget, the government should encourage universities and other educational institutions to incorporate new age skills into their curriculum and also help deserving E-learning start-ups be part of education governing bodies like AICTE and UGC,” he said.
In addition, ED-Tech start-ups, which are forerunners in spreading capabilities alongside conceptual knowledge, want financial support from the state budget in the form of longer-term tax holidays and financial support to thrive in the market, he also mentioned.
Ultimately, authorities must announce packages to foster better internet connectivity infrastructure across the country that guarantees ultimate connectivity, access to low-cost 5G gadgets and most importantly, help learning players in line with strong legal guidelines for record security, he concluded.
DivyaTej Pereira who is the founder of Tutrrd (an individual online student platform for after school tuition) and Pratham Barot who is the co-founder and CEO of Zell Education (Mumbai based EdTech providing courses in finance and accounting) shared pre-budget views and wishes for EdTech companies for the 2022 budget.
- The government should create an umbrella framework on how to regulate and create a framework for the burgeoning EdTech space. This body will help streamline the EdTech field and ensure that fair practices are in place.
- The government must offer more tasks such as the National Generation Education Alliance (NEAT) initiative particularly focused on the direction of the k-12 segment (where the regulator of technical education Indian Council for Technical Education (AICTE) and dozens of EdTech companies can come and work collectively in collaboration). EdTech can act as true allies to government and the school environment that could help multiply government investments and accelerate knowledge of results.
- A proportion to be allocated to education which goes into the development of online teaching skills for all tutors.
- the GST the slab that is 18% should be reduced to 5% for education as an area so that more people can invest in education, thus shaping a better future for the day after today.
- Remember the launch of a EdTech targeted fund to help small and medium-sized edtech companies raise the funds needed for faster scale and a better technology user experience.
- The implementation of the 2020 national school coverage and programs in the footsteps of Ayushman Bharat.
Pratham Barot says, “The union’s long-awaited budget should direct its resources towards implementing the NEP, building the capacity of teachers and improving health and hygiene at school level. It should also focus on implementing ed-tech policies for all students. While the education segment has faced many challenges due to the Covid-19 pandemic, we look forward to the targeted budget to provide relief and support to this very important segment which plays a pivotal role in nation building.