Budget is focusing on education and skill development

The Finance Minister emphasised on one of the major sector, eeducation and skill development. Government is focusing on various steps for undertaking education, skill development and job creation which is the fourth pillar of the Budget proposals.

Positive sentiments are being drawn towards the sector, as India constitutes majorly of a young generation. The government is allocating under ‘Sarva Shiksha Abhiyan’. There will be new 62 Navodaya Vidyalayas lined up over next two years. The government decided to boost Higher Education Financing Agency (HEFA) with an initial capital base of Rs 1,000 crore.

Digitization has been stressed to help educational institutions and students overall. The cabinet is also enabling regulatory architecture to be provided to ten public and ten private institutions for  upgrading their standards to world-class Teaching and Research Institutions.

The government will set up a National Board for Skill Development Certification in partnership with the industry and the academy.The Finance Minister is also keen on bringing entrepreneurship to Pradhan Mantri Kaushal Vikas Yojana (PMKVY), wherein funds of the order of Rs 1700 crore will be injected for setting up 1500 multi skill training institutes across the country.

The Finance Minister also introduced entrepreneurship education and training in 2200 colleges, 300 schools, 500 government ITIs and 50 vocational training centres through open online courses.The startup wave buzzing across the country will propel the growth of the economy.

Considering investors point of view, education and skill development will be in focus over the future term. The companies like Educomp, Greycells Education, MT Educare, Zee Learn and Tree House are majority of the companies that may get impacted from the budget’s announcement.