Strong Academic Research
Education sector needs more budget allocation as well as reforms to increase public-private joint efforts towards upliftment of education in the country. Academic research is another area that requires increased funding and thriving environment through reforms. The content solutions provider industry forms a credible part of industry in India, and also in terms of revenue contribution to the overall GDP
—Ratnesh Kumar Jha, MD, South Asia Cambridge University Press
Reform AICTE
There is an urgent need to transform bodies such as AICTE that control inputs such as curriculum and infrastructure and replace them with a body that rates learning outcomes. We need to attract private capital into higher education and invite ethical companies to invest and earn reasonable returns and ensure high standards in education. We need to remove all controls and replace them with enabling regulation
—Anil Sachdev, founder and CEO School of Inspired leadership
Skill Through Partnership
For achieving the overall skill target till 2022, India needs a budget of total Rs6 lakh crores. As compared to Rs1,500 crores allocated to Minister of State Skill Development and Entrepreneurship during last budget, the expectation of skills training sector would be to see the continuation of commitment towards Skill India Mission, extending of Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with a larger mandate and allocation of budgets other than PMKVY for catalysing more public private partnership efforts in skill development
—Siddharth Chaturvedi, director, AISECT
low Interest On loans
last year, the planned higher education budget was increased by nearly 22 per cent. Some of the more recent IIMs and IITs sorely need better infrastructure and facilities to bring them up to the traditional repute of these institutes. Also, to build on from the education loan interest subsidy scheme that the Government announced in 2014, it would be extremely beneficial to have a Government body to facilitate collateral-free loans for higher education with low interest. This may increase the amount of spending on bad debt, but would ultimately benefit the brain power of the country
—Arun Jagannathan, CEO ,Crack Verbal
Exemption From Service Tax
Compared to last year, we hope a hike of 15 to 20 per cent in the funds for higher education. Because of the many micro changes that happened last year, a pragmatic budget is expected. Moreover, Government can incentivise the private sector to invest in education infrastructure that can help achieve the Government's target of giving skill development to 40 crore people. If education is exempted from service tax, then it will become more affordable. The institutes can also hire better teachers
—Prof. Ashutosh Dash, associate professor, Finance, MDI Gurgaon
Curriculum Standardisation
There is a need of financial and statutory incentives from the Government to motivate private organisations to invest their efforts and time into it, apart from money. Additionally, certain policies, to give opportunity to make reasonable profits in operating schools and other educational institutes, are what an education sector investor expects. Standardisation of curriculum across states and boards will enable cheaper access to education, with large number of facilitators in the market
—Aakash Chaudhry, director, Aakash Educational Services
Transparency In Funds
All companies involved in skill development should be exempted from income tax or service tax. There should be no TDS (Tax deducted at Source) on payments made by Government. Currently the Government makes payment only after TDS, which leads to shortage of cash flow in managing operations. 200 per cent tax benefits should be given to companies spending on CSR in order to further incentivise them. If CSR funds are spent on skill training, Government should match the same. Transparency in funds spent by large industries on skills training to be made mandatory by the Government
—Sanjeev Duggal, CEO and MD, Centum learning